Chinese inflation data is due today:
This
snapshot from the ForexLive economic data calendar, access
it here.The
times in the left-most column are GMT. The
numbers in the right-most column are the ‘prior’ (previous month)
result. The
number in the column next to that, where is a number, is the
consensus median expected.
Snippet comments via …Scotia:Higher oil prices are likely to pull headline inflation up toward 2% y/y (1.5% prior) but with little effect on core inflation that has just been decelerating to a touch over 1% y/y.Either way, China’s inflation rate would remain well below the 3% goalNAB:The market is looking for the PPI yoy reading to ease from 8.3% to 7.8% while CPI is expected to climb to 1.8%yoy from 1.5% previously, China’s subdued CPI dynamics are not an impediment for PBoC easing. A 10bps cut to the MLF next week still looks the most likely outcome.Westpac:Elevated commodity prices continue to buoy producer inflation (market f/c: 7.8%yr) with limited pass through to consumer prices (market f/c: 1.8%yr)ING:relatively subdued inflation in China persists given recent lockdown
