China_ CPI and PPI inflation both below expectations Domestic supply and demand imbalances linger on as policy redirection is still largely absent

Asia Pacific Economic Research 13 October 2024 J P M O R G A N China: CPI and PPI inflation both below expectations Domestic supply and demand imbalances linger on as policy redirection is still largely absent • September CPI moderated to 0.4%oya on a 0.1%m/m sa fall. Food prices inched up 0.2%m/m sa, vehicle fuel prices fell 2.8% m/m nsa, and core CPI inflation moderated to 0.1%oya on a 0.1%m/m decline. • Both service prices and residence costs fell 0.1% m/m sa in September. As summer vacation demand faded ...