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China PPI Jumps 4.1%, CPI Misses; No Cuts Till 2026

7/9/2026

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Summary

Story summary

China’s producer price index rose 4.1% year-on-year in June, the strongest increase since July 2022.
China’s consumer price index rose 1.0% in June, missing the 1.1% forecast, with core CPI at 1.0% (slowest since January) and food prices down 1.6%.
ING chief economist for Greater China Lynn Song and ANZ senior China strategist Zhaopeng Xing said weak inflation lets People’s Bank of China keep rate cuts on hold through 2026.

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Story summary

China’s producer price index rose 4.1% year-on-year in June, the strongest increase since July 2022.
China’s consumer price index rose 1.0% in June, missing the 1.1% forecast, with core CPI at 1.0% (slowest since January) and food prices down 1.6%.
ING chief economist for Greater China Lynn Song and ANZ senior China strategist Zhaopeng Xing said weak inflation lets People’s Bank of China keep rate cuts on hold through 2026.