China: February CPI 2.3% y/y (expected 1.8%) & PPI -4.9% y/y (expected -4.9%)

China inflation data for February

– CPI 2.3% y/y, vs. expected 1.8%, prior was 1.8%

– PPI -4.9% y/y, vs. expected -4.9%, prior was -5.3%.

Much higher CPI than expected, fastest increase since July of 2014, but the CPI is still below the government’s 3% target

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