China’s CPI inflation softens to -0.3% YoY in July vs. -0.4% expected

Dhwani Mehta FXStreet

The latest data published by China’s National Bureau of Statistics (NBS) showed on Wednesday, the country’s annual Consumer Price Index (CPI) fell 0.3% in July, compared with 0% seen in June. The market consensus was for a -0.4% clip.

On a monthly basis, Chinese CPI inflation rose to 0.2% in July versus the -0.2% decrease recorded in June and -0.1% estimates.

China’s Producer Price Index (PPI) declined 4.4% YoY in July as against a 5.4% drop registered previously. Markets had predicted a 4.1% decrease in the reported period.

Market reaction

At the time of writing, AUD/USD is unmoved by the key Chinese data release, keeping its range at around 0.6540.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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