China’s Inflation Declined to Lowest in Over a Year; Trade Data Showed Weakness in Domestic and Global Demand

<p>Headline CPI slowed further to +2.4% y/y in May, from +3.3% a month ago. The market had anticipated a milder drop to +2.7%. The reading is the lowest since April 2019 and the first time below +3% since August 2019. Food inflation continued to ease significantly. Specifically, growth in pork price decelerated to +81.7% y/y, […]</p>
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