Independent Strategy

Tags: PPI

UK

POST » 15th January, 2020 » UK December Inflation

Disinflation resumed in December with consumer prices surprising to the downside.  Headline and core both registered a 1.3% y/y gain, a decline from 1.5% and 1.7% respectively in November.  In constant tax terms the decline was a little faster.  On the producer price side there is scant evidence of any inflationary pressure.  Although headline output prices edged up, core output prices - which are more closely correlated with CPI - ticked a little lower.

China

POST » 10th December, 2019 » China November Inflation

The strong upswing in Chinese consumer price inflation in November has a very straightforward explanation.  The swine flu epidemic and the devastation this has inflicted on Chinese pig herds – reducing total numbers by over 40%.  Indeed, meat prices are up 74% yoy, driven by pork which is now up 110% compared to the same period last year.

China

POST » 10th July, 2019 » China June Inflation Report

Consumer prices remained steady in June with prices actually falling m/m, which kept the y/y rate at 2.7%.  The backdrop would have been more encouraging had swine flu not taken its toll on meat prices while fresh fruit and vegetables have also soared over the past few months.

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