Who will Hillary blame for her email problem?

Just how bad is China’s economic slowdown? Inflation data today provides insight into the downturn. Consumer prices rebounded in February, after inflation hit a five-year low in January. But that was entirely due to seasonal factors, with food prices spiking during last month’s Chinese New Year holiday. Adjusted for that, consumer prices are still in disinflation, rising just 1.1% from a year earlier. Coupled with a sustained bout of producer-price deflation, this underscores the economy’s woes. Another batch of data on Wednesday will confirm that investment and industrial production are also slowing. China’s leaders have seen the warning signals and already acted, cutting interest rates earlier this month. The government has likewise vowed to step up spending to support the economy. It will take another couple of months for the effects of these measures to be felt.