China CPI comes below estimates

FXstreet.com (Barcelona) - China Consumer Price Index for the month of March came below market expectations, with the monthly read at -0.9% vs -0.6% expected in a Reuters poll and +1.1% in February. On a yearly basis, March saw the CPI stand at +2.1% s 2.4% expected, with the prior February read at +3.2. With regards to the China PPI YoY, it came slightly lower-than-expected at -1.9 vs -1.8% estimates and-1.6% the prior month. The data points at moderate inflation pressure, although Michael McDonough, Economist & Bloomberg Brief contributor, notes "it is likely to accelerate as year progresses."