Asia-Pacific markets mixed as traders digest inflation data

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Asia Pacific

Asia-Pacific markets mixed as traders digest inflation data

Asia pacific markets were mixed on Wednesday as investors assessed inflation data from around the region. China's May inflation rate came in at 0.3-percent, rising for a fourth straight month-- Signaling an ongoing recovery in domestic demand. Non-food prices continued to grow amid stable inflation for clothing, housing, and health; as well as a slight move in education costs. Meanwhile, producer prices dropped by 1.4-percent year on year, following a 2.5-percent decrease in April. It marks the 20th consecutive contraction in factory prices but the softest since February 2023. Investors will now turn their focus on US consumer prices which are due out just hours before the Federal Reserve's policy rate decision.