China's annual inflation rate rose to 2.7% in July 2022 from 2.5% in June and compared with market forecasts of 2.9%. This was the fastest rise in consumer prices since July 2020, mainly due to a surge in food prices with cost of pork bouncing back sharply after a cut in production capacity and a strong recovery in demand. Food prices rose 6.3% (2.9% in June), the most in 22 months. Meanwhile, non-food inflation slowed markedly (1.9% vs 2.5%), with cost continuing to rise for transportation & communication (6.1% vs 8.5%), housing (0.7% vs 0.8%), education, culture (1.5% vs 2.1%), household goods and services (1.4% vs 1.5%), clothing (0.7% vs 0.6%), and healthcare (0.7% vs 0.7%). China has set a target of CPI at around 3% for this year, the same as in 2021. On a monthly basis, consumer prices rose 0.5% in July, the most in five months, matching market consensus, and after a flat reading in June. source: National Bureau of Statistics of China
Inflation Rate in China averaged 4.89 percent from 1986 until 2022, 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 August of 2022.
Inflation Rate in China is expected to be 3.00 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.