中国：CPI疲软，反内卷缩小PPI通缩幅度 - 但全面再通胀尚需时日-China_ CPI soft, anti-involution narrows PPI deflation_ But broad-based reflation will take time

China: CPI soft, anti-involution narrows PPI deflation But broad-based reflation will take time Headline CPI inflation was softer than expected, though core CPI ticked up. Headline CPI fell 0.4%oya or 0.03%m/m sa in August (J.P. Morgan and consensus: -0.2%oya). The main drag was from food prices, down 4.3%oya and 0.8%m/m sa, which reduced headline CPI's annual rate by 0.9%pt. Transportation and communication costs also dipped 0.1%m/m sa, including a 0.9%m/m nsa decline in vehicle fuel prices, reflecting low ...