China has reported CPI of +2.3% yoy in April – Deutsche Bank

Research Team at Deutsche Bank, notes that China has reported CPI of +2.3% yoy in April which is both in line with March and relative to expectations.

Key Quotes

“Food prices are again driving the number and were up +7.4% yoy with non-food prices currently +1.1% yoy. Meanwhile, PPI increased by nine-tenths last month and more than expected to -3.4% yoy (vs. -3.7%). That is actually the highest reading since December 2014 and further evidence prices at the factory gate may have bottomed out.”