China's annual inflation rate jumped to 5.4% in January 2020 from 4.5% in December, above market consensus of 4.9%. This was the highest inflation rate since October 2011 due to rising pork prices, stronger demand during the Lunar New Year holiday and the ongoing coronavirus outbreak. Food prices went up 20.6% yoy, the most since April 2008, with pork prices rising for the 11th month in a row and at a steeper rate (116% vs 97% in December). Pork prices have been rising during the last year amid a prolonged African swine fever epidemic and in January 2020, several lockdowns and transport restrictions due to the coronavirus outbreak weighed on the pork cost even more. Non-food price inflation rose to 1.6% from 1.3% in December. Main upward pressure came from clothing (0.6% vs 0.8%); rent, fuel (0.5% vs 0.5%), household goods (0.2% vs 0.4%); transport & communication (0.9% vs -0.7%); education, culture (2.2% vs 1.8%); healthcare (2.3% vs 2.1%) and other goods and services (4.8% vs 4.4%).

Inflation Rate in China averaged 5.13 percent from 1986 until 2020, 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. source: National Bureau of Statistics of China

Inflation Rate in China is expected to be 4.30 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 2.00 in 12 months time. In the long-term, the China Inflation Rate is projected to trend around 1.90 percent in 2021, according to our econometric models.


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China Inflation Rate

Actual Previous Highest Lowest Dates Unit Frequency
5.40 4.50 28.40 -2.20 1986 - 2020 percent Monthly


Calendar GMT Actual Previous Consensus TEForecast
2019-11-09 01:30 AM Oct 3.8% 3% 3.3% 3%
2019-12-10 01:30 AM Nov 4.5% 3.8% 4.2% 4.3%
2020-01-09 01:30 AM Dec 4.5% 4.5% 4.7% 4.7%
2020-02-10 01:30 AM Jan 5.4% 4.5% 4.9% 5.1%
2020-03-10 01:30 AM Feb 5.4% 5.9%
2020-04-10 01:30 AM Mar 5.8%
2020-05-12 01:30 AM Apr 5.4%
2020-06-10 01:30 AM May 5.1%


News Stream
China Inflation Rate Highest in Over 8 Years
China's annual inflation rate jumped to 5.4% in January 2020 from 4.5% in December, above market consensus of 4.9%. This was the highest inflation rate since October 2011 due to rising pork prices, stronger demand during the Lunar New Year holiday and the ongoing coronavirus outbreak. Food prices went up 20.6% yoy, the most since April 2008, with pork prices rising for the 11th month in a row and at a steeper rate (116% vs 97% in December). Pork prices have been rising during the last year amid a prolonged African swine fever epidemic and in January 2020, several lockdowns and transport restrictions due to the coronavirus outbreak weighed on the pork cost even more. Non-food price inflation rose to 1.6% from 1.3% in December. Main upward pressure came from clothing (0.6% vs 0.8%); rent, fuel (0.5% vs 0.5%), household goods (0.2% vs 0.4%); transport & communication (0.9% vs -0.7%); education, culture (2.2% vs 1.8%); healthcare (2.3% vs 2.1%) and other goods and services (4.8% vs 4.4%).
2020-02-10
China Inflation Rate Stays at 8-Year High
China's annual inflation rate unexpectedly steadied at 4.5 percent in December 2019, the same as in the previous month and less than market expectations of 4.7 percent. Still, it remained the highest inflation rate since January 2012, as pork prices surged 97 percent on the back of a prolonged African swine fever epidemic. The government previously said it will use its reserves to provide sufficient pork supply to meet higher demand ahead of the Lunar New Year holidays later in January. Food inflation eased to 17.1 percent from 19.1 percent while non food cost rose at a faster 1.3 percent (1 percent). For full 2019, consumer inflation was at 2.9 percent, in line with the government target of 3 percent. On a monthly basis, consumer prices were flat in December, compared to market estimates of a 0.3 percent advance and following a 0.4 percent gain in November.
2020-01-09
China Inflation Rate Highest Since 2012
China's annual inflation rose to 4.5% in November 2019 from 3.8% in the previous month, above market expectations of 4.2%. It is the highest inflation rate since January 2012 as pork prices jumped 110% caused by a prolonged African swine fever epidemic. The government recently said it will use the reserves to provide sufficient pork supply to meat demand for China's Lunar New Year holidays in January. On a monthly basis, consumer prices increased by 0.4%, after a 0.9% jump in October and compared to market estimates of 0.1%.
2019-12-10
China Inflation Rate Rises to Near 8-Year High
China's annual inflation rose to 3.8 percent in October 2019 from 3 percent in the previous month and above market expectations of 3.3 percent. This was the highest inflation rate since January 2012, mainly due to persistently high pork prices following an outbreak of African swine fever. On a monthly basis, consumer prices increased by 0.9 percent in October, the same as in September, and higher than market estimates of 0.7 percent.
2019-11-09

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.