China's Factory Inflation SOARS & BoC Meeting Awaits
- Markets mainly drifting, lacking catalysts
- China PPI hits 9% YoY, CPI 1.3%
- Oil +0.5%
When China's PPI hits 9%, and no-one cares, what does that say about inflation fears?
“China’s industrial product prices continued to rise in May, as commodity prices, including international crude oil, iron ore and non-ferrous metals rose sharply, and domestic demand recovered steadily,” Dong Lijuan, an economist with the statistics bureau, said in a statement.
Of the 9% year-on-year growth, base effects contributed 3 percentage points and new price hikes contributed 6 percentage points, she said.
Domestically, the pass through from PPI to