Today the Chinese CPI consumer price index for June was released, arriving as follows:
- Real month-on-month June CPI: -0.4% compared to the previous -0.2% and the 0% expected.
- June real CPI year-on-year: 1.1% versus 1.3% previously and 1.3% expected.
Meanwhile, the IPP producer price index has also been published:
- June Real PPI YoY: 8.8% versus 9% previously and 8.8% expected.
About the consumer price index
The Chinese consumer price index is published by the China National Bureau of Statistics and measures the average price change of a basket of goods and services. The CPI is the main element for measuring inflation and changes in buying trends. If the consumer price index rises substantially, it indicates that inflation has become a destabilizing factor for the economy, which may prompt the People’s Bank of China to adjust monetary policy and fiscal risk. Generally, a high result is positive or bullish for the CNY, while a lower reading is negative or bearish.
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