China's annual inflation rate fell to 1.5% in December 2021 from a 15-month high of 2.3% a month earlier. The latest reading was less than market consensus of 1.8%, amid efforts by the governments to secure supply as well as the reimposition of lockdown measures in some regions as the Omicron strain spread rapidly. Food prices fell 1.2%, the 2nd drop in three months, after a 1.6% gain in November, largely attributed to a steeper fall in pork prices (-36.7% vs -32.7% in November) after a recovery in its supply following disruptions caused by bad weather. Meanwhile, non-food inflation eased to 2.1% from 2.5%, with prices moderating for both transportation & communication (5.0% vs 7.6%) and housing (1.6% vs 1.7%). For full 2021, consumer prices rose 0.9% yoy, far below the central bank’s target of around 3% and much softer than a 2.5% gain in 2020. On a monthly basis, consumer prices unexpectedly fell 0.3%, after a 0.4% gain in November and missing consensus of a 0.2% rise. source: National Bureau of Statistics of China

Inflation Rate in China averaged 4.94 percent from 1986 until 2021, 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 January of 2022.

Inflation Rate in China is expected to be 2.50 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 2.00 percent in 2023, according to our econometric models.

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China Inflation Rate


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.
Actual Previous Highest Lowest Dates Unit Frequency
1.50 2.30 28.40 -2.20 1986 - 2021 percent Monthly

Calendar GMT Actual Previous Consensus TEForecast
2021-12-09 01:30 AM Nov 2.3% 1.5% 2.5% 2.6%
2022-01-12 01:30 AM Dec 1.5% 2.3% 1.8% 2%
2022-02-16 01:30 AM Jan 1.5% 1.7%


Related Last Previous Unit Reference
Inflation Rate 1.50 2.30 percent Dec/21
Inflation Rate Mom -0.30 0.40 percent Dec/21
Consumer Price Index CPI 101.40 101.70 points Dec/21
Core Consumer Prices 101.20 101.20 points Dec/21
Core Inflation Rate 1.20 1.20 percent Dec/21
GDP Deflator 696.46 689.46 points Dec/20
Producer Prices 111.80 113.10 points Dec/21
Producer Prices Change 10.30 12.90 percent Dec/21
Food Inflation -1.20 1.60 percent Dec/21


News Stream
China Inflation Rate Below Estimates
China's annual inflation rate fell to 1.5% in December 2021 from a 15-month high of 2.3% a month earlier. The latest reading was less than market consensus of 1.8%, amid efforts by the governments to secure supply as well as the reimposition of lockdown measures in some regions as the Omicron strain spread rapidly. Food prices fell 1.2%, the 2nd drop in three months, after a 1.6% gain in November, largely attributed to a steeper fall in pork prices (-36.7% vs -32.7% in November) after a recovery in its supply following disruptions caused by bad weather. Meanwhile, non-food inflation eased to 2.1% from 2.5%, with prices moderating for both transportation & communication (5.0% vs 7.6%) and housing (1.6% vs 1.7%). For full 2021, consumer prices rose 0.9% yoy, far below the central bank’s target of around 3% and much softer than a 2.5% gain in 2020. On a monthly basis, consumer prices unexpectedly fell 0.3%, after a 0.4% gain in November and missing consensus of a 0.2% rise.
2022-01-12
China Inflation Rate Hits 15-Month High
China's consumer price inflation accelerated to 2.3 percent in November 2021 from 1.5 percent a month earlier and compared with market consensus of 2.5 percent. It was the highest rate since August 2020, due to seasonal rising demand, supply constraints, and sporadic COVID-19 outbreaks. Food prices rose for the first time in six months (1.6 percent vs -2.4 percent in October), led by a jump in cost for both fresh vegetables and fresh fruit and a slower fall in pork prices. In the meantime, non-food inflation edged up to 2.5 percent from 2.4 percent, with cost rising for all components, in particular transportation & communication (7.6 percent vs 7.0 percent); housing (1.7 percent, the same as in October); and education, culture and recreation (3.0 percent vs 2.9 percent). Beijing has set a 2021 CPI target of around 3 percent, compared with 3.5 percent last year. On a monthly basis, consumer prices rose 0.4 percent, slowing from a 0.7 percent gain in October.
2021-12-09
China Inflation Rate Hits 13-Month High
China's annual inflation rate accelerated sharply to 1.5% in October 2021 from 0.7% a month earlier, above market consensus of 1.4%. This was the highest figure since September 2020, attributed to a faster rise in cost of non-food and a softer drop in food prices. Non-food prices rose 2.4% after gaining 2.0% in September, with inflation quickening for transportation & communication (7.0% vs 5.8% in September), fuel & utilities (1.7% vs 1.3%), household goods and services (1.5% vs 0.5%), and health (0.6% vs 0.4%); while cost rose further for both clothing ( at 0.5% vs 0.5%), and education, culture (2.9% vs 3.2%). Food prices, meantime, fell the least in 4 months, amid a slower fall in pork prices and a rebound in cost of both fresh vegetables and fresh fruit. Beijing has set a 2021 CPI target of around 3%, compared with 3.5% last year. On a monthly basis, consumer prices rose 0.7%, the most in 9 months, due to rising cost, adverse weather, and supply issues in some commodities.
2021-11-10