China is set to report consumer price inflation and producer prices for July at 9.30 a.m. SIN/HK Wednesday as investors keep their eyes on the world’s second-largest economy ahead of a key Communist Party meeting in the fall.

Analysts polled by Reuters expected consumer inflation to stay steady from June at 1.5 percent on-year while producer prices were also forecast to remain flat from the 5.5 percent on-year rise in June.

Inflation data from China is closely watched as indications of how the central bank may approach monetary policies. China’s 2017 inflation target is 3.0 percent.

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