China Food Prices Fall the Most in a Year

China’s food prices fell 2.9% year-on-year in October 2026, following a 1.7% decline in the previous month. This marked the seventh consecutive month of decline and the steepest pace since October 2025. Prices declined further for fresh fruit (-3.8% vs -1.5% in September), fresh vegetables (-16.9% vs -8.1%), edible oils (-1.1% vs -1.1%), and dairy products (-1.2% vs -1.5%). Pork prices, a key component of China's food basket, continued to fall (-8.6% vs -10.0%), reflecting abundant supply and persistently subdued demand. In contrast, egg prices remained elevated (10.1% vs 14.3%).

China’s food prices declined 1.7% year-on-year in September 2026, accelerating from a 1.4% drop in the previous month. It was the sixth consecutive month of contraction and the steepest pace in four months. Prices fell further for fresh fruit (-1.5% vs -0.5% in August), fresh vegetables (-8.1% vs -2.8%), edible oils (-1.1% vs -1.3%), and dairy products (-1.5% vs -1.4%). Pork prices, a key component of China’s food basket, continued to decline (-10.0% vs -11.8%), reflecting abundant supply and persistently subdued demand. In contrast, egg prices stayed elevated (14.3% vs 15.0%).

China’s food prices declined 1.4% year-on-year in August 2026, easing from a 1.5% drop in the previous month. While marking the fifth consecutive month of contraction, the latest decline was the mildest in the sequence. Prices fell further for fresh fruit (-0.5% vs -1.1% in July), edible oils (-1.3% vs -1.1%), and dairy products (-1.4% vs -1.5%). Fresh vegetable prices also dropped 2.8%, reversing a 0.3% increase in July. Pork prices, a key component of China’s food basket, continued to decline (-11.8% vs -13.9%), reflecting abundant supply and subdued demand. In contrast, egg prices accelerated (15.0% vs 14.4%).