Chinese Inflation Data Keeps Markets Stable
The release of some mixed Chinese Inflation data kept markets stable as the trading week kicked off in Asia.
Consumer Price Inflation
In a report issued by the National Bureau of Statistics of China, official data showed on Monday that Consumer price inflation in China remained unchanged unexpectedly last month. Chinese CPI stayed at an annual rate of 2.3%, from the 2.3% recorded in the preceding month. This came after analysts had been expecting Chinese CPI to increase to 2.5% for last month.
The Chinese government has set the CPI growth target at around 2.3% for this year. The 2.5% growth target is serving as the top end of Chinese Premier Li Keqiang’s reasonable range of expected economic growth for the world’s second largest economy.
Producer Price Inflation
In a separate report issued by National Bureau of Statistics of China, official data showed on Monday that Producer price inflation in China increased more-than-expected last month. Chinese PPI increased to an annual rate of -4.3%, down from the -4.9% recorded in the preceding month. This came after analysts had been expecting Chinese PPI to increase to -4.6% for last month.
The Producer Price index increased 0.5% on a monthly basis in March, the first increase since January 2014. This having shown a decline of 0.3% in February.
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