2015.02.10 09:02:47 Chinese CPI and PPI come out below expectations – TDS

FXStreet (Barcelona) - The TD Securities Team reviews today’s Chinese CPI and PPI release, noting that the drop in food prices was the major driver for fall in CPI, slowest pace in 5 years.

Key Quotes

“CPI and PPI for Jan were both below expectations. CPI was up +0.8%/yr, not far from expectations of +1% rise on the year, but rose at the slowest pace in 5 years.”

“The major driver of the drop in headline CPI was food prices, rising at a much slower pace, dropping from +2.9%/yr to +1.1%/yr. This sharper drop in food prices can be explained away by the run up in food prices into Chinese New Year that fell on Jan 31st last year, providing an elevated base for comparison (CNY is on 18th Feb this year). So expect some rebound in Feb."

“As for PPI, it fell from –3.3%/yr to –4.3%/yr vs market at –3.7%/yr, the sharp fall reflecting weak commodity prices.”

Description: 2015.02.10 09:02:47 Chinese CPI and PPI come out below expectations – TDS
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ItemReviewed: 2015.02.10 09:02:47 Chinese CPI and PPI come out below expectations – TDS

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