Rising food prices likely lifted China’s CPI in Jan., while slower manufacturing activity and a drop in metal prices extended decline in producer prices, according to Bloomberg surveys. CPI rose 1.9% y/y last month, according to median est. in survey; ests. of 32 economists range from +1.5% to +2.3%; data due at 9:30am local time tomorrow China food inflation tracker rose to 3.02% in Jan., highest since Aug., from 2.16% in Dec. Correlation between CPI and food tracker at 0.986 in past five years Producer prices likely fell 5.4% y/y in Jan. versus -5.9% in Dec., according to separate survey China’s PPI has been negative since Feb. 2012
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