China May Consumer Prices -1.4%, Producer Prices -7.2%

Source: www.forexlive.com

China’s consumer prices fell 1.4% yoy in May, the fourth consecutive month of deflation. Expectations were for a fall of 1.3%. China’s producer prices fell 7.2% in the year to May, much greater than the forecast of 6.8%. However most economists are relaxed about the fall, seeing it as a statistical correction of the surge in food and industrial commodity prices in 2008, rather than a sign of economic contraction. No real movements in currency markets on the back of these numbers.


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