China NBS: MoM, gasoline up 4.9%—driven by international price moves—with the
increase narrowing 2.3 ppt vs. last month; gold jewelry swung from +7.6% last
month to -2.1%. Gasoline and gold together added ~0.14 ppt to MoM CPI. Mobile
phones +3.7%, computers +2.0%, data storage devices +1.7% and tablets +1.5% on
higher input costs, collectively adding ~0.04 ppt to MoM CPI. Autumn apparel
launches lifted clothing prices 0.7%, adding ~0.03 ppt. Food prices +0.4% MoM
(unchanged), 0.8 ppt below seasonal level, adding ~0.06 ppt to MoM CPI.