China – the test of PPI as a cycle
We are getting near a test of our thesis that PPI deflation in China is mainly cyclical, with global commodity prices suggesting a PPI recovery.
![China – the test of PPI as a cycle](/content/images/size/w2000/2024/04/China--PPI-and-global-prices----YoY.png)
We are getting near a test of our thesis that PPI deflation in China is mainly cyclical, with global commodity prices suggesting a PPI recovery.