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. Inflation Rate in China averaged 5.13 percent from 1986 until 2019, 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. source: National Bureau of Statistics of China

Inflation Rate in China is expected to be 2.40 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 2020, according to our econometric models.

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China Inflation Rate

Actual Previous Highest Lowest Dates Unit Frequency
4.50 4.50 28.40 -2.20 1986 - 2019 percent Monthly



Calendar GMT Actual Previous Consensus TEForecast
2019-10-15 01:30 AM Sep 3% 2.8% 2.9% 2.9%
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 4.5% 4.4%


News Stream
2019-12-10
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%.

2019-11-09
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.

2019-10-15
China Inflation Rate Rises to Near 6-Year High
China's annual inflation rose to 3 percent in September 2019 from 2.8 percent in the previous month and above market expectations of 2.9 percent. This was the highest inflation rate since October 2013, 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 September, the most since February, following a 0.7 percent gain in August and higher than market estimates of 0.7 percent.

2019-09-10
China August Inflation Rate Steady at 2.8%
China's annual inflation rate was at 2.8 percent in August 2019, unchanged from the previous month and above market forecasts of 2.6 percent. It remained the highest consumer inflation rate since February 2018, driven by persistently high pork prices amid an outbreak of African swine fever.

2019-08-09
China Inflation Rate Hits 17-Month High
China's annual inflation rate rose to 2.8 percent in July 2019 from 2.7 percent in the previous month and above market estimates of 2.7 percent. That was the highest rate since February 2018 boosted by the fastest increase in food prices since January 2012, as pork prices were persistently high in the wake of an outbreak of African swine fever. On a monthly basis, consumer prices rose by 0.4 percent in July, the most since February, after a 0.1 percent decline in June while markets had expected a 0.2 percent gain.

2019-07-10
China June Inflation Rate Steady at 15-Month High
China's annual inflation rate stood at 2.7% in June 2019, unchanged from the previous month's 15-month high and matching market expectations. Food inflation rose to its highest since January 2012, as pork prices were persistently high following an outbreak of African swine fever. On a monthly basis, consumer prices fell 0.1 percent in June, after a flat reading in May and in line with market consensus.


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.

China Prices Last Previous Highest Lowest Unit
Inflation Rate 4.50 4.50 28.40 -2.20 percent [+]
Inflation Rate Mom 0.00 0.40 2.60 -1.80 percent [+]
Consumer Price Index CPI 104.50 104.50 128.40 97.80 points [+]
Core Consumer Prices 101.40 101.40 102.50 98.40 points [+]
Core Inflation Rate 1.40 1.40 2.50 -1.60 percent [+]
GDP Deflator 684.89 660.59 684.89 100.78 points [+]
Producer Prices 99.50 98.60 113.47 91.80 points [+]
Producer Prices Change -0.50 -1.40 13.47 -8.20 percent [+]
Export Prices 101.10 102.00 116.50 90.20 points [+]
Import Prices 96.40 98.60 122.70 79.60 points [+]
Food Inflation 17.40 19.10 40.20 -5.50 percent [+]