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.