China NBS data: In June, producer prices for production materials rose 5.5% YoY,
contributing about +4.28 ppt to the headline industrial PPI. By sector: mining
+16.5% YoY, raw-materials industry +8.6% YoY, processing/manufacturing +3.0%
YoY. Consumer goods prices declined 0.9% YoY, subtracting about -0.20 ppt from
headline PPI; within consumer goods: food -2.1% YoY, clothing -1.0% YoY, general
daily goods -1.0% YoY, durable consumer goods +0.1% YoY.