China's annual inflation rate fell to 1.0% in February 2023 from 2.1% in the prior month, missing market forecasts of 1.9%. This was the weakest print since February 2022, with prices of both food and non-food easing sharply, as consumers stayed cautious despite the removal of zero-COVID policy. Food inflation hit its lowest in 9 months (2.6% vs 6.2% in Jan) due to a sharp slowdown in prices of porks. Also, non-food inflation was softer at 0.6% (vs 1.2%), as cost grew less for both transport (0.1% vs 2.0%) and education (1.2% vs 2.4%) while falling further for housing (-0.1% vs -0.1%). In contrast, prices rose faster for clothing (0.7% vs 0.6%) and health (1.0% vs 0.8%). Core consumer prices, excluding the volatile prices of food and energy, went up 0.6% yoy, the least in 3 months, after a 1.0% gain in Jan. On a monthly basis, consumer prices unexpectedly dropped 0.5%, the first fall in 3 months, and compared with the consensus of a 0.2% increase. source: National Bureau of Statistics of China

Inflation Rate in China averaged 4.84 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 March of 2023.

Inflation Rate in China is expected to be 2.00 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 Actual Previous Consensus TEForecast
2023-02-10 01:30 AM Jan 2.1% 1.8% 2.2% 2%
2023-03-09 01:30 AM Feb 1% 2.1% 1.9% 2.3%
2023-04-11 01:30 AM Mar 1% 2.0%


Related Last Previous Unit Reference
Inflation Rate 1.00 2.10 percent Feb 2023
Inflation Rate MoM -0.50 0.80 percent Feb 2023
Consumer Price Index CPI 103.50 104.00 points Feb 2023
Core Inflation Rate 0.60 1.00 percent Feb 2023
Core Consumer Prices 100.60 101.00 points Feb 2023
GDP Deflator 722.52 696.46 points Dec 2021
Producer Prices 110.60 110.60 points Feb 2023
Producer Prices Change -1.40 -0.80 percent Feb 2023
Food Inflation 2.60 6.20 percent Feb 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
1.00 2.10 28.40 -2.20 1986 - 2023 percent Monthly

News Stream
China Inflation Rate Lowest in a Year
China's annual inflation rate fell to 1.0% in February 2023 from 2.1% in the prior month, missing market forecasts of 1.9%. This was the weakest print since February 2022, with prices of both food and non-food easing sharply, as consumers stayed cautious despite the removal of zero-COVID policy. Food inflation hit its lowest in 9 months (2.6% vs 6.2% in Jan) due to a sharp slowdown in prices of porks. Also, non-food inflation was softer at 0.6% (vs 1.2%), as cost grew less for both transport (0.1% vs 2.0%) and education (1.2% vs 2.4%) while falling further for housing (-0.1% vs -0.1%). In contrast, prices rose faster for clothing (0.7% vs 0.6%) and health (1.0% vs 0.8%). Core consumer prices, excluding the volatile prices of food and energy, went up 0.6% yoy, the least in 3 months, after a 1.0% gain in Jan. On a monthly basis, consumer prices unexpectedly dropped 0.5%, the first fall in 3 months, and compared with the consensus of a 0.2% increase.
2023-03-09
China Inflation Rate Rises to 3-Month High
China's annual inflation rate rose to 2.1% in January 2023 from 1.8% in December, compared with market forecasts of 2.2%. This was the highest reading in 3 months, as prices of food jumped and those of non-food gained further on the back of the Lunar New Year festival and the removal of pandemic measures. Food inflation accelerated to a 3-month peak (6.2% vs 4.8% in December), boosted by a sharp rebound in prices of fresh vegetables. Meantime, non-food inflation edged up to 1.2% from 1.1%, with prices continuing to rise for clothing (0.6% vs 0.5%), health (0.8% vs 0.6%), transport (2.0% vs 2.8%), and education (2.4% vs 1.4%); while cost of housing fell further (-0.1% vs -0.2%). Core consumer prices, excluding the volatile prices of food and energy, went up 1.0% yoy, after gaining 0.7% in December. On a monthly basis, consumer prices increased 0.8% in January, compared with consensus of 0.7%, following a flat reading in December and marking the steepest rise since January 2021.
2023-02-10
China Inflation Rate Accelerates as Expected
China's annual inflation rate rose to 1.8% in December 2022 from November's eight-month low of 1.6%, in line with market consensus. The latest result primarily reflected a 4.8% increase in food prices, even as domestic demand was sluggish after the COVID infections spike. Meanwhile, non-food inflation was unchanged (at 1.1%), with prices continuing to grow for transport & communication (2.8% vs 2.9%), health (0.6% vs 0.5%), clothing (0.5% vs 0.5%), and education, culture (1.4% vs 1.3%); and the cost of housing falling further (-0.2% vs -0.2%). Core consumer prices, excluding the volatile items of food and energy, rose 0.7% YoY in December after a 0.6% gain in November. On a monthly basis, consumer prices were unexpectedly flat, compared with forecasts of a 0.1% fall and after a prior 0.2% drop. For the full year of 2022, inflation reached 2%, below the government target of around 3%.
2023-01-12