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China's CPI at a four month high

Friday, Oct 14 2016
China's CPI at a four month high

Chinese consumer price growth reached a four-month high in September, while producer inflation rose for the first time since 2012, raising optimism that spare capacity in the economy was beginning to ease. The consumer price index (CPI) advanced 1.9% from a year ago, following a 1.3% increase in August, the National Bureau of Statistics reported Friday. A median estimate of economists forecast CPI inflation to improve to 1.6%. Compared to August, consumer inflation climbed 0.7%, following a 0.1% increase the prior month. Economists projected a 0.3% gain over the previous month.

 

A separate gauge of factory-gate prices known as the producer price index (PPI) edged up 0.1% in the 12 months through September. That was the first increase since 2012, ending a stretch of four-and-half years of declining prices. Although Chinese producer prices were in decline for more than four years, the deceleration had eased in recent months. The extent to which factory-gate prices can improve depends largely on the health of the domestic manufacturing sector.

 

Aussie is currently being traded around 0.76 handle. Pair is likely to find support around 0.7550 area and resistance above 0.7660 level.

Last modified on Saturday, 15 October 2016
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