China's consumer price inflation fell to 1.5 percent year-on-year in February 2019 from 1.7 percent in the previous month and matching market consensus. This was the lowest inflation rate since January last year, mainly due to a marked slowdown in prices of food. On a monthly basis, consumer prices went up 1.0 percent in February, after a 0.5 percent rise in January and above market expectations of 0.7 percent gain. It marked the highest monthly figure in a year. Inflation Rate in China averaged 5.18 percent from 1986 until 2019, 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.

Inflation Rate in China is expected to be 1.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in China to stand at 2.20 in 12 months time. In the long-term, the China Inflation Rate is projected to trend around 2.40 percent in 2020, according to our econometric models.

China Inflation Rate
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Calendar GMT Actual Previous Consensus TEForecast
2018-12-09 01:30 AM Inflation Rate YoY 2.2% 2.5% 2.4% 2.3%
2019-01-10 01:30 AM Inflation Rate YoY 1.9% 2.2% 2.1% 2.2%
2019-02-15 01:30 AM Inflation Rate YoY 1.7% 1.9% 1.9% 1.9%
2019-03-09 01:30 AM Inflation Rate YoY 1.5% 1.7% 1.5% 1.6%
2019-04-11 01:30 AM Inflation Rate YoY 1.5% 1.5%
2019-05-09 01:30 AM Inflation Rate YoY 1.4%
2019-06-12 01:30 AM Inflation Rate YoY 1.6%



China Inflation Rate Slows to 13-Month Low of 1.5% in February

China's consumer price inflation fell to 1.5 percent year-on-year in February 2019 from 1.7 percent in the previous month and matching market consensus. This was the lowest inflation rate since January last year, mainly due to a marked slowdown in prices of food.

The politically sensitive food inflation eased to a seven-month low of 0.7 percent in February from 1.9 percent in the preceding month, as prices rose at a softer pace for: fresh vegetables (1.7 percent vs 3.8 percent in January), and fresh fruit (4.8 percent vs 5.9 percent); while cost fell for:  eggs (-4.7 percent vs 0.3 percent); pork (-4.8 percent vs -3.2 percent); and edible oil (-0.3 percent, the same as in January).

Cost of non-food rose 1.7 percent in February unchanged from a month earlier. Prices advanced further for clothing (2.0 percent vs 1.6 percent); and healthcare (2.8 percent vs 2.7 percent) and cost of transport and communication fell less (-1.2 percent vs -1.3 percent). On the other hand, prices slowed for household goods and services (1.3 percent vs 1.5 percent); education, culture and recreation (2.4 percent vs 2.9 percent); and other goods and services (2.0 percent vs 2.3 percent). Also, inflation was steady for rent, fuel & utilities (2.2 percent, the same as in January).

Annual core inflation, which strips out volatile food and energy prices, edged down to 1.8 percent in February from 1.9 percent the previous month.

On a monthly basis, consumer prices went up 1.0 percent in February, after a 0.5 percent rise in January and above market expectations of 0.7 percent gain. It marked the highest monthly figure in a year.

Meantime, China's producer price index increased by 0.1 percent from a year earlier in February 2019, unchanged from the January's 28-month low figure and below market estimates of 0.2 percent. Prices of means of production continued to fall (-0.1 percent, the same as in January), namely raw materials (-1.5 percent vs -1.6 percent), while inflation was steady for processing (at 0.3 percent) and  cost of extraction rose further (1.8 percent vs 1.2 percent). In addition, consumer goods inflation edged down to 0.4 percent from 0.6 percent, of which daily use goods (0.2 percent vs 0.3 percent); durable goods (-0.6 percent vs a flat reading); food production (0.8 percent, the same as in January), and clothing (1.6 percent, the same as in January). On a monthly basis, producer prices fell 0.1 percent in February, following a 0.6 percent fall in January and marking the fourth straight month of drop.


Statistics China l Rida Husna | rida@tradingeconomics.com
3/11/2019 10:31:03 AM



China Prices Last Previous Highest Lowest Unit
Inflation Rate 1.50 1.70 28.40 -2.20 percent [+]
Inflation Rate Mom 1.00 0.50 2.60 -1.80 percent [+]
Consumer Price Index CPI 101.50 101.70 128.40 97.80 Index Points [+]
Core Consumer Prices 101.80 101.90 102.50 98.40 Index Points [+]
Core Inflation Rate 1.80 1.90 2.50 -1.60 percent [+]
GDP Deflator 656.41 630.75 656.41 100.78 Index Points [+]
Producer Prices 100.10 100.10 113.47 91.80 Index Points [+]
Producer Prices Change 0.10 0.10 13.47 -8.20 percent [+]
Export Prices 103.20 105.30 111.90 90.70 Index Points [+]
Import Prices 112.60 111.30 122.70 79.60 Index Points [+]
Food Inflation 0.70 1.90 40.20 -5.50 percent [+]


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. This page provides - China Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. China Inflation Rate - actual data, historical chart and calendar of releases - was last updated on March of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
1.50 1.70 28.40 -2.20 1986 - 2019 percent Monthly




Country Last Previous
Argentina 50.70 Feb/19
Australia 1.80 Dec/18
Brazil 3.89 Feb/19
Canada 1.50 Feb/19
China 1.50 Feb/19
Euro Area 1.50 Feb/19
France 1.30 Feb/19
Germany 1.50 Feb/19
India 2.57 Feb/19
Indonesia 2.57 Feb/19
Italy 1.00 Feb/19
Japan 0.20 Feb/19
Mexico 3.94 Feb/19
Netherlands 2.60 Feb/19
Russia 5.20 Feb/19
Saudi Arabia -2.20 Feb/19
Singapore 0.40 Jan/19
South Africa 4.10 Feb/19
South Korea 0.50 Feb/19
Spain 1.10 Feb/19
Switzerland 0.60 Feb/19
Turkey 19.67 Feb/19
United Kingdom 1.90 Feb/19
United States 1.50 Feb/19


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