Halister News

(Bloomberg) -- China’s producer prices likely fell at a slower pace last month after commodity prices saw its biggest monthly rebound since Dec. 2010, Bloomberg analysis shows.

• PPI probably fell 3.7% y/y in April after a 4.3% drop in Feb, Bloomberg survey shows; data due 9:30am local time tomorrow; PPI has been negative since early 2012
• Bloomberg Commodity Index jumped 8.49%, or 6.69 to 85.52 last month; correlation between the index and PPI is at 0.795 in past five years, see trend here
• CPI rose 2.3% y/y last month, according to median est. in survey, same pace as in March; ests. range from +1.8% to +2.6%; data due same time as PPI
• Bloomberg’s China food inflation tracker rose 9.15% in April, highest since Jan. 2012, after 7.87% advance in March; CPI and food inflation tracker have a correlation of 0.976 in past five years