China’s inflation, as measured by the Consumer Price Index (CPI), rose by 0.7% YoY in February from a 0.8% decline in January. The market consensus was for a rise of 0.3%.
On a monthly basis, Chinese CPI inflation climbed 1.0% MoM in February versus a 0.3% increase seen in January, above the market consensus of 0.7%.
China’s Producer Price Index (PPI) dropped 2.7% YoY in February, as against a 2.5% decline in January. The data came in weaker than the market expectations for a 2.5% decline in the reported period.
Market reaction
At the time of writing, AUD/USD holds lower ground near 0.6618, down 0.03% on the day.
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