Inflation picks up in China

FXstreet.com (Barcelona) - China Consumer Price Index (MoM) came at 0% in June vs -0.2% expected and -0.6% prior. Meanwhile, the yearly inflation reading for the same month of June stood at +2.7 vs 2.5% expected and 2.1% prior. With regards to the Chinese Producer Price Index (YoY) in June, the reading showed XXX vs -2.7% expected and -2.9% prior. According to Sean Callow, FX Strategist at Westpac, "inflation should have no implications for monetary policy."