China’s CPI inflation edges higher to 0.6% YoY in August vs. 0.7% expected
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China’s Consumer Price Index (CPI) rose at an annual pace of 0.6% in August after reporting a 0.5% growth in July. The market consensus was for a 0.7% increase in the reported period.
Chinese CPI inflation came in at 0.4% MoM in August versus July’s 0.5% acceleration, worse than the 0.5% estimate.
China’s Producer Price Index (PPI) declined 1.8% YoY in August, following a 0.8% drop in July. The data came in worse than the market forecast of -1.4%.
Market reaction to China’s inflation data
AUD/USD buyers appear unperturbed by the softer-than-expected Chinese inflation data, adding 0.19% on the day to trade at 0.6785, as of writing.
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