China's Dec inflation figures softer-than-expected

China's December CPI came at 2.1% y/y vs 2.3% exp and 2.3% last, while m/m CPI saw 0.2% vs 0.3% exp and 0.1% last. As per the PPI, it came at 5.5% y/y vs 4.5% exp and 3.3% last. While inflationary trends have been improving in China, mainly driven by the government's aggressive fiscal spending, today's data is a step back worth nothing. Post data, the Australian Dollar is edging slightly higher towards 0.7350.