WILLIAMS: CPI data are consistent with what I expect to see over the next few months.

The China Association of Automobile Manufacturers, with 18 major OEMs as co-authors, has released the group standard "Cost Calculation Rules for Complete Vehicles in China's Automotive Industry." It is the first unified domestic standard for whole-vehicle cost measurement, intended to end long-standing inconsistent cost accounting, curb disorderly price competition and promote high-quality development through industry-wide self-discipline.

Fed chair Kevin Warsh said inflation will not be permanent.