中国 - 7 月生产者价格指数（PPI）通缩仍严重-China_ PPI deflation remained deep in July
2025-08-11 01:21
9 August 2025 | 2:04PM HKT China: PPI deflation remained deep in July Bottom line: PPI: -3.6% yoy in July (-1.8% mom annualized*) vs. GS: -3.3% yoy, Bloomberg consensus: -3.3% yoy; June: -3.6% yoy (-2.9% mom annualized*). (*seasonally adjusted by GS) Main points: 1. China's headline CPI edged down to 0.0% yoy in July from +0.1% yoy in June, as food deflation deepened (Exhibit 1). In month-on-month terms, headline CPI fell to +0.4% (annualized, seasonally adjusted) in July (vs. +1.8% mom s.a. ann in June). 2 ...