Asia Insights Global Markets Research Economics - Asia ex-Japan China: Deflation persists in August amid stock market rally CPI and PPI deflation are likely to persist in September We expect CPI to remain negative at -0.2% y-o-y in September, with some support from food prices ahead of the combined Mid-Autumn Festival (6 October) and National Day golden week holiday (1-8 October). High-frequency data from the MARA show food price inflation picked up sequentially to 2.6% m-o-m in month-to-date September from ...