China's consumer price inflation slowed to 1.7 percent year-on-year in January 2019 from 1.9 percent in the previous month and below market consensus of 1.9 percent. It was the lowest inflation rate since January 2018, as food prices rose at a softer pace. On a monthly basis, consumer prices went up 0.5 percent in January, after being unchanged in December and matching market estimates. Inflation Rate in China averaged 5.19 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 2.30 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 2.40 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
2018-11-09 01:30 AM Inflation Rate YoY 2.5% 2.5% 2.5% 2.4%
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%
2019-03-11 01:30 AM Inflation Rate YoY 1.7% 2.6%
2019-04-11 01:30 AM Inflation Rate YoY 2.3%
2019-05-09 01:30 AM Inflation Rate YoY 2.2%



China Inflation Rate Lowest in a Year

China's consumer price inflation slowed to 1.7 percent year-on-year in January 2019 from 1.9 percent in the previous month and below market consensus of 1.9 percent. It was the lowest inflation rate since January 2018, as food prices rose at softer pace.

The politically sensitive food inflation eased to a five-month low of 1.9 percent in January from 2.5 percent in the preceding month, as prices rose at a softer pace for: fresh vegetables (3.8 percent vs 4.2 percent in December), fresh fruit (5.9 percent vs 9.4 percent) and eggs (0.3 percent vs 0.7 percent); while cost continued to fall for both edible oil (-0.3 percent vs -0.3 percent) and pork (-3.2 percent vs -1.5 percent). 

Cost of non-food rose 1.7 percent in January, the same as in a month earlier. Prices continued to increase for: clothing (1.6 percent vs 1.5 percent); rent, fuel & utilities (2.1 percent vs 2.2 percent); household goods and services (1.5 percent vs 1.4 percent); education, culture and recreation (2.9 percent vs 2.3 percent); healthcare (2.7 percent vs 2.5 percent); and other goods and services (2.3 percent vs 1.6 percent). At the same time, cost of transport and communication fell further (-1.3 percent vs -0.7 percent).

Annual core inflation, which strips out volatile food and energy prices, edged up to 1.9 percent in January, the highest since August, from 1.8 percent the previous month.

On a monthly basis, consumer prices went up 0.5 percent in January, after being unchanged in December and matching market estimates. It was the highest monthly rate in four months.

Meantime, China's producer price index increased by 0.1 percent from a year earlier in January, far slower than a 0.9 percent rise in the previous month and slightly below market expectations of 0.2 percent. It was the lowest producer inflation since September 2016, amid a slight decline in prices of means of production (-0.1 percent vs 1 percent), such as raw materials (-1.6 percent vs 0.8 percent), while inflation slowed for processing (0.3 percent vs 0.8 percent) and extraction (1.2 percent vs 3.8 percent). At the same time, consumer goods inflation edged down to 0.6 percent from 0.7 percent, of which food production (0.8 percent vs 0.9 percent), clothing (1.6 percent, the same as in December) and daily use goods (0.3 percent vs 0.4 percent). The cost of consumer durable goods was flat, following a 0.2 percent rise in December. On a monthly basis, producer prices fell 0.6 percent in January, the third straight month of decrease.


Statistics China | Rida Husna | rida@tradingeconomics.com
2/15/2019 10:41:00 AM



China Prices Last Previous Highest Lowest Unit
Inflation Rate 1.70 1.90 28.40 -2.20 percent [+]
Inflation Rate Mom 0.50 0.00 2.60 -1.80 percent [+]
Consumer Price Index CPI 101.70 101.90 128.40 97.80 Index Points [+]
Core Consumer Prices 101.90 101.80 102.50 98.40 Index Points [+]
Core Inflation Rate 1.90 1.80 2.50 -1.60 percent [+]
GDP Deflator 656.41 630.75 656.41 100.78 Index Points [+]
Producer Prices 100.10 100.90 113.47 91.80 Index Points [+]
Producer Prices Change 0.10 0.90 13.47 -8.20 percent [+]
Export Prices 105.30 107.50 111.90 90.70 Index Points [+]
Import Prices 112.60 111.30 122.70 79.60 Index Points [+]
Food Inflation 1.90 2.50 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 February of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
1.70 1.90 28.40 -2.20 1986 - 2019 percent Monthly




Country Last Previous
Argentina 48.90 Jan/19
Australia 1.80 Dec/18
Brazil 3.78 Jan/19
Canada 2.00 Dec/18
China 1.70 Jan/19
Euro Area 1.40 Jan/19
France 1.20 Jan/19
Germany 1.40 Jan/19
India 2.05 Jan/19
Indonesia 2.82 Jan/19
Italy 0.90 Jan/19
Japan 0.30 Dec/18
Mexico 4.37 Jan/19
Netherlands 2.20 Jan/19
Russia 5.00 Jan/19
Saudi Arabia 2.20 Dec/18
Singapore 0.50 Dec/18
South Africa 4.50 Dec/18
South Korea 0.80 Jan/19
Spain 1.00 Jan/19
Switzerland 0.60 Jan/19
Turkey 20.35 Jan/19
United Kingdom 1.80 Jan/19
United States 1.60 Jan/19


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