China's annual inflation rate was at 2.8 percent in August 2019, unchanged from the previous month and above market forecasts of 2.6 percent. It remained the highest consumer inflation rate since February 2018, driven by persistently high pork prices amid an outbreak of African swine fever. Inflation Rate in China averaged 5.14 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 2.90 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 2.00 in 12 months time. In the long-term, the China Inflation Rate is projected to trend around 1.90 percent in 2020, according to our econometric models.

China Inflation Rate
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Calendar GMT Actual Previous Consensus TEForecast
2019-06-12 01:30 AM Inflation Rate YoY May 2.7% 2.5% 2.7% 2.5%
2019-07-10 01:30 AM Inflation Rate YoY Jun 2.7% 2.7% 2.7% 2.6%
2019-08-09 01:30 AM Inflation Rate YoY Jul 2.8% 2.7% 2.7% 2.7%
2019-09-10 01:30 AM Inflation Rate YoY Aug 2.8% 2.8% 2.6% 2.6%
2019-10-15 01:30 AM Inflation Rate YoY Sep 2.8% 2.9%
2019-11-09 01:30 AM Inflation Rate YoY Oct 2.4%
2019-12-10 01:30 AM Inflation Rate YoY Nov 2.2%



China August Inflation Rate Steady at 2.8%

China's annual inflation rate was at 2.8 percent in August 2019, unchanged from the previous month and above market forecasts of 2.6 percent. It remained the highest consumer inflation rate since February 2018, driven by persistently high pork prices amid an outbreak of African swine fever.

The politically sensitive food inflation surged to 10 percent in August, as pork prices soared 46.7 percent, the sixth straight month of increase, after a 27 percent increase in July. Also, cost of edible oil rose further (1 percent vs 0.4 percent). Meantime, prices slowed for fresh fruits (24 percent vs 39.1 percet) and eggs (3.6 percent vs 10.5 percent) while cost of fresh vegetables fell (-0.8 percent vs 5.2 percent).

Non-food price inflation eased to 1.1 percent from 1.3 percent in the prior month, mainly due to rent, fuel & utilities (1 percent vs 1.5 percent); clothing (1.6 percent vs 1.8 percent); household goods & services (0.7 percent vs 0.8 percent); healthcare (2.3 percent vs 2.6 percent); and education, culture & recreation (2.1 percent vs 2.3 percent). In addition, transport and communication prices dropped faster (-2.3 percent vs -2.1 percent). By contrast, cost of other goods and services advanced at a faster pace (4.7 percent vs 3.4 percent).

Annual core inflation, which strips out volatile food and energy prices, edged down to 1.5 percent in August from 1.6 percent in July.

On a monthly basis, consumer prices went up 0.7 percent in August, the most since February, following a 0.4 percent gain in July and higher than market expectations of a 0.5 percent rise.

Meanwhile, China's producer price index fell 0.8 percent year-on-year in August 2019, following a 0.3 percent decrease in the previous month and compared with market expectations of a 0.9 percent decline. It was the sharpest fall in producer prices since August 2016, as cost of means of production dropped further (-1.3 percent vs -0.7 percent in July), mainly due to raw materials (-3.5 percent vs -2.9 percent), processing (-0.8 percent vs -0.2 percent), and extraction (2.8 percent vs 3.2 percent). Also, prices eased for consumer goods (0.7 percent vs 0.8 percent), of which durable goods (-2 percent vs -1.2 percent), food production (2 percent vs 2.2 percent), clothing (0.9 percent vs 1.3 percent) and daily use goods (0.6 percent vs 0.8 percent).


Statistics China | Stefanie Moya | stefanie.moya@tradingeconomics.com
9/10/2019 10:00:10 AM



China Prices Last Previous Highest Lowest Unit
Inflation Rate 2.80 2.80 28.40 -2.20 percent [+]
Inflation Rate Mom 0.70 0.40 2.60 -1.80 percent [+]
Consumer Price Index CPI 102.80 102.80 128.40 97.80 Index Points [+]
Core Consumer Prices 101.50 101.60 102.50 98.40 Index Points [+]
Core Inflation Rate 1.50 1.60 2.50 -1.60 percent [+]
GDP Deflator 646.30 627.76 646.30 100.78 Index Points [+]
Producer Prices 99.20 99.70 113.47 91.80 Index Points [+]
Producer Prices Change -0.80 -0.30 13.47 -8.20 percent [+]
Export Prices 105.10 103.40 116.50 90.20 Index Points [+]
Import Prices 105.90 107.90 122.70 79.60 Index Points [+]
Food Inflation 10.00 9.10 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 September of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
2.80 2.80 28.40 -2.20 1986 - 2019 percent Monthly




Country Last Previous
Argentina 53.60 Aug/19
Australia 1.60 Jun/19
Brazil 3.43 Aug/19
Canada 2.00 Jul/19
China 2.80 Aug/19
Euro Area 1.00 Aug/19
France 1.00 Aug/19
Germany 1.40 Aug/19
India 3.21 Aug/19
Indonesia 3.49 Aug/19
Italy 0.40 Aug/19
Japan 0.50 Jul/19
Mexico 3.16 Aug/19
Netherlands 2.80 Aug/19
Russia 4.30 Aug/19
Saudi Arabia -1.30 Jul/19
Singapore 0.40 Jul/19
South Africa 4.00 Jul/19
South Korea 0.00 Aug/19
Spain 0.30 Aug/19
Switzerland 0.30 Aug/19
Turkey 15.01 Aug/19
United Kingdom 2.10 Jul/19
United States 1.70 Aug/19


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