Cost of food in China surged 20.6% yoy in January 2020, the most since April 2008, following a 17.4% advance in December, with pork prices rising for the eleventh 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. In addition, cost rose further for edible oil (5% vs 4.8%), fresh vegetables (17.1% percent vs 10.8%), and eggs (2.4% percent vs 6.2% percent). Meantime, prices of fruits fell less (-5% vs -8%).
Food Inflation in China averaged 5.92 percent from 1993 until 2020, reaching an all time high of 40.20 percent in October of 1994 and a record low of -5.50 percent in April of 1999. This page provides - China Food Inflation - actual values, historical data, forecast, chart, statistics, economic calendar and news. source: National Bureau of Statistics of China
Food Inflation in China is expected to be 17.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Food Inflation in China to stand at 4.90 in 12 months time. In the long-term, the China Food Inflation is projected to trend around 2.10 percent in 2021, according to our econometric models.