Economist at UOB Group Ho Woei Chen, CFA, reviews the latest publication of inflation prints in China. Key Takeaways In line with expectation, China’s
Economist at UOB Group Ho Woei Chen, CFA, reviews the latest publication of inflation prints in China.In line with expectation, China’s CPI recovered to rise 0.1% y/y in Aug from -0.3% y/y in Jul. CPI also rose on a sequential basis with the gain picking up to 0.3% m/m in Aug from 0.2% m/m in Jul. Risk of a sustained deflation in China remains low but we could still see some months of y/y contraction in headline CPI from now until 1Q24.
We maintain our forecast for the headline inflation at 0.4% in 2023 before strengthening to 1.7% in 2024. We expect the PPI to average -3.1% in 2023 before recovering slightly to 0.4% in 2024. Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
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