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China's CPI increased less than expected, PPI continues to fall

Tuesday, Nov 10 2015
China’s consumer inflation waned in October while factory-gate deflation extended a record streak of negative readings, signaling policy makers may need to hit the gas again to ease deflationary pressures. The consumer-price index rose 1.3% in October from a year earlier, according to the National Bureau of Statistics, missing the 1.5% median estimate and down from 1.6% in September. The producer-price index fell 5.9%, its 44th straight monthly decline.
 The lingering deflation risks, along with weakening trade, open the door for additional stimulus as inflation remains about half the government’s target pace. The People’s Bank of China -- which has cut interest rates six times in the past year -- is seeking to stabilize the economy without fueling a renewed surge in debt. Food prices rose 1.9% from a year earlier, from 2.7% in September. Non-food prices climbed 0.9%. Prices of consumer goods increased 1%, while services increased 1.9%, the data showed.
 
Aussie  is currently being traded around 0.7050 level. Pair is likely to find support around 0.720 area and resistance above 0.71 level. There will be no major data releases in the rest of the session.
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