Strong consumer spending fueling inflation in China

Shares in Asia-Pacific are in the positive territory, as investors react to higher than expected inflation in China. Producer prices in the country rose 8% year-on-year against an expected increase of 7.7%. The data comes as China battles its worst Covid outbreak since the initial phase of the pandemic in early 2020. Meanwhile, US stock futures are also higher ahead of a key inflation reading. Mega-cap technology names such as Apple and Microsoft, led gains Tuesday, after struggling through the last four sessions. We had OANDA's senior market analyst, Craig Erlam to discuss more on inflation readings in China and the US. #China #United States #Inflation