Inflation rates slow down in various countries.

China's consumer price index rose 0.1% YoY in April, the slowest rate in two years, with prices declining by 0.1% MoM. Economists expected to see consumer prices rise 0.4% YoY. Inflation in China was led by food and services, while consumer goods prices fell. China's producer price index fell 3.6% YoY, with economists expecting a decline of 3.2%. China's low inflation is likely driven by insufficient demand, with households still cautious on goods spending, especially for large ticket items.