Asian shares are mostly higher as investors keep an eye on China-U.S. trade talks that might help stave off a recession.

Inflation in the U.S. has been surprisingly tame despite the ongoing trade wars, but economists widely expect some increase. Just how much - and for how long - well, there's far less agreement about that.

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China's consumer price index (CPI), a main gauge of inflation, edged down in May, but core CPI growth expanded year-on-year, indicating positive price dynamics, official data showed on Monday.

The United States is looking to restore the flow of “crucial” rare earth minerals, which were restricted after China’s retaliatory efforts in early April.

China's producer deflation deepened to its worst level in almost two years in May while consumer prices extended declines, as the economy grappled with trade tensions and a prolonged housing downturn.