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China and US CPI and PPI: Is it transitory?
China released both CPI and PPI data earlier and the results point to worries that inflation may pick up faster than expected. China’s YoY CPI print was 0.9% vs 0.4% in March. This is the highest reading since September 2020. This big gainer in the CPI data was transportation and communication, which was 4.9% vs 2.7% in March. Pork prices continued to decline, -21.4% vs -18.4% last. The MoM headline reading was -0.3% vs -0.5% in March. PPI is a measure of producer prices. It tells what businesses are paying for materials they use to make their products. In theory, these prices will be passed on to the consumer at ... (full story)