Rolling coverage of the latest economic and financial news
The Iran oil shock has pushed Chinese factory inflation to its highest in nearly four years.
China’s producer price inflation has jumped to a 45-month high of 2.8% in April, up from just 0.5% in March, National Bureau of Statistics (NBS) data showed.
The impact of higher energy prices stemming from the Iran war was clear in the [consumer inflation] data. We saw a 17.4% YoY surge in energy for the transportation subcategory, which rose 11.5% month-on-month after a 10% spike in last month’s data.
China’s gasoline prices have risen by less than crude oil prices since the start of the Iran War, suggesting that there’s still likely upside ahead for this subcategory if oil prices stay elevated. The impact of higher energy prices stemming from the Iran war was clear in the data. We saw a 17.4% YoY surge in energy for the transportation subcategory, which rose 11.5% month-on-month after a 10% spike in last month’s data.
Some of that [the pound’s weakness] is to do with the US dollar catching a bid on the reopen this morning on risk aversion flows after the Iranian response to the US peace plan.
Continue reading…Rolling coverage of the latest economic and financial newsThe Iran oil shock has pushed Chinese factory inflation to its highest in nearly four years.China’s producer price inflation has jumped to a 45-month high of 2.8% in April, up from just 0.5% in March, National Bureau of Statistics (NBS) data showed.The impact of higher energy prices stemming from the Iran war was clear in the [consumer inflation] data. We saw a 17.4% YoY surge in energy for the transportation subcategory, which rose 11.5% month-on-month after a 10% spike in last month’s data.China’s gasoline prices have risen by less than crude oil prices since the start of the Iran War, suggesting that there’s still likely upside ahead for this subcategory if oil prices stay elevated. The impact of higher energy prices stemming from the Iran war was clear in the data. We saw a 17.4% YoY surge in energy for the transportation subcategory, which rose 11.5% month-on-month after a 10% spike in last month’s data.Some of that [the pound’s weakness] is to do with the US dollar catching a bid on the reopen this morning on risk aversion flows after the Iranian response to the US peace plan. Continue reading…
