China March CPI: 4.3% y/y (vs. expected 4.9%)

Inflation data from China, for March
CPI 4.3% y/y (food prices are up 18.3% y/y)
– expected 4.9% y/y, prior 5.2%
PPI -1.5% y/y … the deflationary impact of the shutdown is weighing on PPI (its not the only factor but a biggie)