Chinese inflation dropped to an almost five-year low in September

Chinese inflation tumbling to 1.6% on year from 2% in August and coming in below consensus of 1.7%. Factory gate prices (PPI) slumped 1.8% vs -1.2% previously. "You got falling oil prices, falling house prices, excess capacity in the industry and an appreciating currency," "So everything is pointing to deflation getting a whole lot worse before it can get better."