China's consumer price inflation stood at 2.5 percent year-on-year in October 2018, unchanged from the previous month's seven-month high and in line with market expectations. A slowdown in prices of food was offset by a faster rise in cost of non-food products. On a monthly basis, consumer prices went up 0.2 percent in October, easing from a 0.7 percent advance in September and also matching market consensus. Inflation Rate in China averaged 5.21 percent from 1986 until 2018, 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 2.60 percent in 2020, according to our econometric models.

China Inflation Rate
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Calendar GMT Actual Previous Consensus TEForecast
2018-09-10 01:30 AM Inflation Rate YoY 2.3% 2.1% 2.2% 2.2%
2018-10-16 01:30 AM Inflation Rate YoY 2.5% 2.3% 2.5% 2.4%
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 2.5% 2.3%



China Inflation Rate Unchanged at 7-Month High


China's consumer price inflation stood at 2.5 percent year-on-year in October 2018, unchanged from the previous month's seven-month high and in line with market expectations. A slowdown in prices of food was offset by a faster rise in cost of non-food products.

For 2018, the Chinese government targets inflation to be around 3 percent. 

The politically sensitive food inflation eased to 3.3 percent in October from a seven-month high of 3.6 percent in September, as prices rose at a softer pace for fresh vegetables (10.1 percent vs 14.6 percent) while declines continued to be recorded in cost of edible oil (-0.6 percent, the same as in September) and pork (-1.3 percent vs -2.4 percent). At the same time, cost of fresh fruits increased at a faster 11.5 percent (vs 10.2 percent in September) and prices of eggs went up 8.5 percent (vs 7.1 percent in September). 

Meanwhile, non-food inflation picked up to 2.4 percent in October from 2.2 percent in September. Cost went up at a faster rate for: clothing (1.4 percent vs 1.2 percent); transport and communication (3.2 percent vs 2.8 percent); education, culture and recreation (2.5 percent vs 2.2 percent); and other goods and services (1.3 percent vs 0.7 percent). At the same time, inflation slowed for: rent, fuel and utilities (2.5 percent vs 2.6 percent); household goods & services  (1.5 percent vs 1.6 percent); and healthcare (2.6 percent vs 2.7 percent).

Annual core inflation, which excludes volatile items such as food and energy, edged up to 1.8 percent in October from 1.7 percent in the previous month.

On a monthly basis, consumer prices went up 0.2 percent in October, easing from a 0.7 percent advance in September and also matching market consensus.

Meantime, the producer price index in China increased by 3.3 percent from a year earlier in October, after a 3.6 percent rise in the previous month and matching market expectations. It was the lowest producer inflation since March, as prices of means of production went up at a softer 4.2 percent (vs 4.6 percent in September), namely raw materials (6.7 percent vs 7.3 percent) and processing (2.5 percent vs 2.9 percent), while there was a pick up in extraction inflation (12.4 percent vs 11.7 percent). In addition, consumer goods inflation edged down to 0.7 percent from 0.8 percent, of which daily use goods (1 percent vs 1.1 percent), food production (0.9 percent, the same as in September) and clothing (1.2 percent vs 1.1 percent). Cost of consumer durable goods declined 0.1 percent (vs 0.2 percent in September). On a monthly basis, producer prices went up 0.4 percent, following a 0.6 percent rise in September.



National Bureau of Statistics of China | Rida | rida@tradingeconomics.com
11/9/2018 11:35:26 AM



China Prices Last Previous Highest Lowest Unit
Inflation Rate 2.50 2.50 28.40 -2.20 percent [+]
Inflation Rate Mom 0.20 0.70 2.60 -1.80 percent [+]
Consumer Price Index CPI 102.50 102.50 128.40 97.80 Index Points [+]
Core Consumer Prices 101.80 101.70 102.50 98.40 Index Points [+]
Core Inflation Rate 1.80 1.70 2.50 -1.60 percent [+]
GDP Deflator 656.41 630.75 656.41 100.78 Index Points [+]
Producer Prices 103.30 103.60 113.47 91.80 Index Points [+]
Producer Prices Change 3.30 3.60 13.47 -8.20 percent [+]
Export Prices 104.10 101.00 111.90 90.70 Index Points [+]
Import Prices 105.80 106.90 122.70 79.60 Index Points [+]
Food Inflation 3.30 3.60 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 November of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
2.50 2.50 28.40 -2.20 1986 - 2018 percent Monthly




Country Last
Argentina 45.50 Oct/18
Australia 1.90 Sep/18
Brazil 4.56 Oct/18
Canada 2.20 Sep/18
China 2.50 Oct/18
Euro Area 2.20 Oct/18
France 2.20 Oct/18
Germany 2.50 Oct/18
India 3.31 Oct/18
Indonesia 3.16 Oct/18
Italy 1.60 Oct/18
Japan 1.20 Sep/18
Mexico 4.90 Oct/18
Netherlands 2.10 Oct/18
Russia 3.50 Oct/18
Saudi Arabia 2.10 Sep/18
Singapore 0.70 Sep/18
South Africa 4.90 Sep/18
South Korea 2.00 Oct/18
Spain 2.30 Oct/18
Switzerland 1.10 Oct/18
Turkey 25.24 Oct/18
United Kingdom 2.40 Oct/18
United States 2.50 Oct/18


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