While everyone was focused on the US CPI, the more accurate and useful price information was released by the Chinese.

Producer prices in China have repeatedly matched global economic conditions, much better than US CPI.

PPI *down big* in July.https://t.co/EH7guxTKpo pic.twitter.com/pDpccbXhrc

— Jeffrey P. Snider (@JeffSnider_AIP) August 11, 2022