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China/US: Of Mountains And Molehills

• That Joe Biden and Xi Jinping will meet in person this week is to be welcomed. Furthermore, low expectations allow both sides to claim some ‘wins’. However, those expectations are rooted in the low probability of any substantive improvement in their relations.

By Alastair Newton

India CPI Inflation 4.87% y-o-y (consensus 4.8) in Oct-23

- India's CPI inflation in October 2023 was marginally higher than the consensus forecast at 4.87% y-o-y but still slowed to the lowest growth since May 2023.
- The current CPI inflation rate is 0.82 pp below the one-year average, indicating an encouraging easing of excessive inflationary trends.

India Wholesale Prices -0.26% y-o-y in Sep-23

- India's wholesale prices in September 2023 decreased by 0.26% year-on-year, marking the highest growth rate since March 2023.
- Wholesale food prices witnessed a significant increase of 3.35% year-on-year in September 2023, potentially impacting inflationary pressures.

India CPI Inflation 5.02% y-o-y (consensus 5.5%) in Sep-23

- India's CPI inflation decreased to 5.02% year-on-year in September 2023, marking the lowest growth rate since June 2023 in a substantial undershoot of the 5.5% consensus expectations.
- The current inflation rate is 0.83 percentage points below the one-year average, indicating a potential improvement in price stability.