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UBS On-Air: Paul Donovan Daily Audio 'Another (downward) inflation surprise'
Published 1 week, 2 days ago
Description
China’s July consumer and producer price inflation were lower than expected. China’s domestic prices have a weak relationship with export prices, and China's export prices have a weak relationship with global inflation. The price declines were attributed to energy and tourism services. However, this is another economy where inflation has been lower than consensus. Possibly the consensus is being distorted by the unusual experiences of 2022.