China June CPI +0.1% y/y (expected +0.0%) | Forexlive

China June2025 inflation data

China CPI (YoY) (March 2025) +0.1%, the first rise in five months

• expected 0.0%, prior -0.1%

CPI (MoM) -0.1%

• expected 0.0%, prior -0.2%

PPI (YoY) -3.6%, getting worse, this is the largest drop since July 2023

• expected -3.2%, prior -3.3%
• the m/m PPI came in at -0.4%

PPI deflation gets worse, which makes it difficult for firms to grow revenue and invest.

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On the CPI, China’s National Bureau of Statistics (NBS) is touting the +0.1% y/y rise as being due to support policies to drive domestic demand continuing to produce effects:

• Industrial consumer goods prices drove CPI recovery; oil price drag eased, gold/platinum jewelry surged.
• Service prices stayed stable at 0.5% YoY

China’s National Bureau of Statistics (NBS) says on the PPI:

• PPI drop linked to seasonal raw material downturns and green power-driven energy price falls
• Export-reliant sectors (electronics, textiles) faced price pressure amid weak global trade
• Auto, PV, and lithium battery sectors saw narrowed price declines on policy support

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