China's consumer prices dropped by 0.3%% yoy in July, the first decrease since February 2021, compared to a flat reading in June and market estimates of a 0.4% fall. The cost of food fell 1.7%, after rising in the prior 15 months amid a plunge in pork prices. Meantime, non-food prices were flat after falling 0.6% previously, with the cost rising for clothing (1.0% vs 0.9% in June), housing (0.1% vs flat reading), health (1.2% vs 1.1%), and education (2.4% vs 1.5%); while prices of transport continued to fall (-4.7% vs -6.5%). China's statistics agency said a fall in CPI will only be temporary, and inflation is projected to pick up gradually as the impact of a high base last year will fade. Core consumer prices, which exclude prices of food and energy, went up 0.8% yoy, the most since January, after a 0.4% gain in June. On a monthly basis, consumer prices unexpectedly rose by 0.2%, beating forecasts of a 0.1% decrease and marking the first rise in 6 months. source: National Bureau of Statistics of China

Inflation Rate in China averaged 4.79 percent from 1986 until 2023, reaching an all time high of 28.40 percent in February of 1989 and a record low of -2.20 percent in April of 1999. This page provides - China Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. China Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on August of 2023.

Inflation Rate in China is expected to be -0.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the China Inflation Rate is projected to trend around 2.10 percent in 2024 and 2.20 percent in 2025, according to our econometric models.

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China Inflation Rate



Calendar GMT Reference Actual Previous Consensus TEForecast
2023-07-10 01:30 AM Jun 0% 0.2% 0.2% 0.1%
2023-08-09 01:30 AM Jul -0.3% 0% -0.4% -0.3%
2023-09-09 01:30 AM Aug -0.3% -0.4%


Related Last Previous Unit Reference
Inflation Rate -0.30 0.00 percent Jul 2023
Inflation Rate MoM 0.20 -0.20 percent Jul 2023
Consumer Price Index CPI 102.90 102.70 points Jul 2023
Core Consumer Prices 100.80 100.40 points Jul 2023
Core Inflation Rate 0.80 0.40 percent Jul 2023
GDP Deflator 726.04 692.26 points Dec 2021
Producer Prices 107.90 108.20 points Jul 2023
Producer Prices Change -4.40 -5.40 percent Jul 2023
Food Inflation -1.70 2.30 percent Jul 2023

China Inflation Rate
In China, the most important components of the CPI basket are Food (31.8 percent of total weight) and Residence (17.2 percent). Recreation, Education and Culture Articles account for 13.8 percent; Transportation and Communication for 10 percent, Healthcare and Personal Articles for 9.6 percent, Clothing for 8.5 percent; Households Facilities, Articles and Services for 5.6 percent; Tobacco, Liquor and Articles for the remaining 3.5 percent. The CPI basket is reviewed every five years on the basis of household surveys. Revisions reflect new spending patterns and economic development, according to the National Bureau of Statistics. Last revision took place in 2011.
Actual Previous Highest Lowest Dates Unit Frequency
-0.30 0.00 28.40 -2.20 1986 - 2023 percent Monthly

News Stream
China Consumer Prices Fall for 1st Time in Over 2 Years
China's consumer prices dropped by 0.3%% yoy in July, the first decrease since February 2021, compared to a flat reading in June and market estimates of a 0.4% fall. The cost of food fell 1.7%, after rising in the prior 15 months amid a plunge in pork prices. Meantime, non-food prices were flat after falling 0.6% previously, with the cost rising for clothing (1.0% vs 0.9% in June), housing (0.1% vs flat reading), health (1.2% vs 1.1%), and education (2.4% vs 1.5%); while prices of transport continued to fall (-4.7% vs -6.5%). China's statistics agency said a fall in CPI will only be temporary, and inflation is projected to pick up gradually as the impact of a high base last year will fade. Core consumer prices, which exclude prices of food and energy, went up 0.8% yoy, the most since January, after a 0.4% gain in June. On a monthly basis, consumer prices unexpectedly rose by 0.2%, beating forecasts of a 0.1% decrease and marking the first rise in 6 months.
2023-08-09
China Inflation Unexpectedly Flat in June
China's consumer prices unexpectedly flattened in June 2023, missing market expectations and May's figure of a 0.2% rise. This was the lowest reading since a deflation in February 2021, mainly due to a decline in non-food prices (-0.6% vs flat reading in May) with cost of transport falling further (-6.5% vs -3.9% in May) while that of education slowed (1.5% vs 1.7%). Meantime, inflation was stable for health (at 1.1%) while prices of housing were unchanged after declining 0.2% previously. Food prices, meanwhile, rose the most in three months (2.3% vs 1.0%), due to a rebound in cost of both fresh vegetables and eggs and despite a sharp fall in pork prices. Core consumer prices, which exclude prices of food and energy, went up 0.4% yoy, the least since March 2021, after a 0.6% gain in May. On a monthly basis, consumer prices unexpectedly dropped by 0.2%, the fifth straight month of falls, and compared with consensus of a flat print.
2023-07-10
China Inflation Rate Below Forecasts
China's annual inflation rate edged up to 0.2% in May 2023 from April's 26-month low of 0.1% but below market estimates of 0.3%. Food inflation picked up from a 13-month low in the prior month (1.0% vs 0.4%) on the back of further rises in prices of both fruit and cooking oil and a softer fall in cost of fresh vegetables. Meanwhile, non-food inflation was flat (at 0.1%), as further falls in prices of both transport (-3.9% vs -3.3%) and housing (-0.2% vs -0.3%) offset rises in cost of health (1.1% vs 1.0%) and education (1.7% vs 1.9%). Core consumer prices, excluding the volatile prices of food and energy, went up 0.6% yoy, after a 0.7% gain in April. On a monthly basis, consumer prices dropped by 0.2%, the fourth straight month of fall, compared with estimates of a 0.1% decline.
2023-06-09