Depending on where you look, Asia's inflation is either benign or stubbornly hot.
China's March inflation rate stayed below Beijing's 4 percent target and appeared to be on a softening trajectory, and South Korea's dropped to a 20-month low. But other figures show price pressures actually picked up last month, and factories paid more for raw materials.
The disconnect stems from the way inflation is measured. The primary indicator in many Asian economies compares prices against a year earlier, not the prior month as is common in the United States and Europe.
That can be misleading.
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