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.