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China CPI Rebounds

By Stephen InnesMarket OverviewApr 09, 2021 02:25AM ET
www.investing.com/analysis/china-cpi-rebounds-200572102
China CPI Rebounds
By Stephen Innes   |  Apr 09, 2021 02:25AM ET
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China CPI Rebound And May Eventually Be Good News For Yuan Bulls

After declining 0.3% and 0.2% in January and February, China’s CPI inflation rebounded to +0.4% y/y in March, above market expectation of 0.3%, primarily on higher commodity prices. Pork prices, a key element in China’s CPI basket, fell 18.4% y/y after plunging 14.9% in February.

This is the first CPI increase this year.

Although CPI has yet to reach a level that will significantly impact the currency, reckon it’s still good news for yuan bulls. As inflation pressure starts to emerge, the People's Bank of China would be more tolerant of any CNY appreciation and higher interest rates.

Of course, the China  CPI "Blue Print " could also raise Global inflation concerns and might  add a ripple or two of angst  to the inflation pacifist calm that has fallen on the market post-FOMC minutes.

China CPI Rebounds
 

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China CPI Rebounds

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