Is China’s PPI upside direction ending?
China’s producer prices signaled a slowdown in April, adding to signs of easing global inflation and moderation of economic momentum with the beginning of the second quarter.
China PPI edged up 6.4 percent in the year ended April, compared to a 7.6 percent gain in March and analysts’ projection of 6.7 percent increase. The month-on-month reading reported 0.4 percent drop, the first fall since June.
In February, PPI hit its highest level in eight years and therefore the upside direction seems to be ending due to retreat in commodity prices.
CPI rose 1.2 percent in the year through April, accelerating from 0.9
percent in March.