Highlights
The Producer Price Index (PPI) is the measure of inflation at the wholesale level and the Consumer Price Index (CPI) is the rate of inflation at the retail level. This morning, China reported both indexes.
The PPI annual rate was expected to be -2.7% (deflation). The actual PPI was a -2.6% (less deflation than expected, which is good)
The annual CPI rate was expected to be -0.1%. The actual CPI was -0.2% (not terrible, but worse than expected).
From MetSul Meteorologia (of Brazil noon yesterday):
"The heat wave in Central Brazil will be unusual, stronger than the historic ones in September and October, one of the most intense in the country's history, with extraordinarily high temperatures and records lasting up to a century."