China: CPI inflation remained subdued on low food prices - Nomura
Analysts at Nomura note that China's consumer price index (CPI) inflation edged up by 0.1pp to 1.9% y-o-y in June (Consensus and Nomura: 1.9%), slightly lower than the average of 2.0% over January-May (2017: 1.6%).
Key Quotes
“The rise in headline CPI inflation was mainly driven by food price inflation, which rebounded by 0.2pp to 0.3% y-o-y in June; while non-food price inflation was unchanged from May at 2.2% y-o-y.”
“In month-on-month terms, CPI inflation edged up 0.1pp to -0.1% in June. Food price inflation climbed 0.5pp to -0.8%, from its recent low of -4.2% in March, while non-food price inflation was unchanged.”
Author
Sandeep Kanihama
FXStreet Contributor
Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.
