March CPI from China: 0.9% y/y (expected 1.0%) & PPI 7.6% y/y (expected 7.5%)

March CPI from China, comes in at 0.9% y/y, for a miss on expected, but ahead of February
– expected 1.0% y/y
– prior 0.8%
– the m/m CPI is -0.3%
– Food inflation -1.9% m/m (-4.4% y/y)
The target for inflation is around 3%, so its well short.