China Aug PPI up 3.8% YoY, prior 3.5%

Accelerating Chinese PPI signals firmer upstream cost pressures, which can ripple through global supply chains and influence input costs for manufacturers and commodity-linked assets. For RWA markets, this could matter if inflation persistence shifts expectations around demand for industrial commodities backing tokenized assets. The key question is whether this marks a sustained trend or a temporary spike, as that would determine the durability of any cost-driven repricing. Watch upcoming months for whether producer inflation feeds into consumer prices and policy responses.