China Inflation Nears 3-Year High

2026-01-09 01:35 By Farida Husna 1 min. read

China’s annual inflation rate edged higher to 0.8% in December 2025 from 0.7% in the prior month, marking the highest level since February 2023 but falling short of market forecasts for 0.9%.

The latest result also pointed to the third straight month of consumer inflation, with food prices rising the most in 14 months (1.1% vs 0.2% in November), driven by sharper price increases in fresh vegetables and fresh fruit.

Meanwhile, non-food inflation remained steady (at 0.8%), helped by ongoing consumer trade-in programs.

Prices continued to rise for clothing (1.7% vs 1.9%), healthcare (1.8% vs 1.6%), and education (0.9% vs 0.8%).

In contrast, housing prices fell 0.2% after being flat previously, while transport costs dropped further (-2.6% vs -2.3%).

Core inflation, which excludes food and energy, held at 1.2% yoy, staying at its highest in 20 months.

Monthly, the CPI rose 0.2%, after a 0.1% drop in November.

For the whole year, inflation was flat, missing the official target of around 2%.



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China’s annual inflation rate edged higher to 0.8% in December 2025 from 0.7% in the prior month, marking the highest level since February 2023 but falling short of market forecasts for 0.9%. The latest result also pointed to the third straight month of consumer inflation, with food prices rising the most in 14 months (1.1% vs 0.2% in November), driven by sharper price increases in fresh vegetables and fresh fruit. Meanwhile, non-food inflation remained steady (at 0.8%), helped by ongoing consumer trade-in programs. Prices continued to rise for clothing (1.7% vs 1.9%), healthcare (1.8% vs 1.6%), and education (0.9% vs 0.8%). In contrast, housing prices fell 0.2% after being flat previously, while transport costs dropped further (-2.6% vs -2.3%). Core inflation, which excludes food and energy, held at 1.2% yoy, staying at its highest in 20 months. Monthly, the CPI rose 0.2%, after a 0.1% drop in November. For the whole year, inflation was flat, missing the official target of around 2%.
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