China’s PPI will print at the highest level since Lehman collapsed in September 2008

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UNEXPECTEDLY! China’s highest producer inflation in over 12 years highlights global price pressures. “China’s May factory gate prices rose at their fastest annual pace in over 12 years due to surging commodity prices, highlighting global inflation pressures at a time when policymakers are trying to revitalise COVID-hit growth. Investors are increasingly worried pandemic-driven stimulus measures could supercharge global inflation and force central banks to tighten policy, potentially curbing the recovery. China’s producer price index (PPI) increased 9.0%, the National Bureau of Statistics (NBS) said on Wednesday, as prices bounced back from last year’s pandemic lows. PPI rise in May – the fastest on-year gain for any month since September 2008 – was driven by significant price increases in crude oil, iron ore and non-ferrous metals, the NBS said. Analysts in a Reuters poll had expected the PPI to rise 8.5% after a 6.8% increase in April.”

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Nothing to see here, move along.

Totally unrelated: Fear the Boom and Bust. It’s the boom that should make you feel leery. “You must save to invest, don’t use the printing press, or a bust will surely follow, an economy depressed.”

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