Deflation pressures in China showed up starkly in the inflation data over the weekend ...Middle East

Inflation data from China over the weekend revealed consumer prices falling at their fastest in three years (the y/y drop was the fastest since November 2020):Weekend news: China CPI -0.5% y/y vs -0.1% expectedcore inflation (excluding food and fuel) was 0.6% y/y in November, the same as October Deflation at the wholesale price level continued also (PPI).The deflationary pulse in China is a reflection of weak consumer demand, alongside factors such as falling global energy prices, the dissipation of the post-opening travel boom, a glut in supply, mounting local government debt, and the implosion of the property sector. All of this is leading to Chinese consumers pulling back. Last week:Mood

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