China, mid-2023: on the brink of deflation
The June data on inflation in China surprised on the other hand: heading 0.0% against 0.0%. +0.2% YoY, Bloomberg consensus, -5.4% PPI yoy. -5.0% consensus. The price level is shown in Figure 1 and the annualized inflation in Figure 2: Picture 1: China CPI (black), core CPI (brown) and PPI (green), all in journals, 2019M12=0.
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