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. Inflation Rate in China averaged 5.15 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.

Inflation Rate in China is expected to be 1.90 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.

China Inflation Rate
Forecast Data Chart
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Calendar GMT Actual Previous Consensus TEForecast
2019-04-11 01:30 AM Inflation Rate YoY Mar 2.3% 1.5% 2.3% 2%
2019-05-09 01:30 AM Inflation Rate YoY Apr 2.5% 2.3% 2.5% 2.1%
2019-06-12 01:30 AM Inflation Rate YoY May 2.7% 2.5% 2.7% 2.5%
2019-07-10 01:30 AM Inflation Rate YoY Jun 2.7% 2.7% 2.7% 2.6%
2019-08-09 01:30 AM Inflation Rate YoY Jul 2.7% 1.7%
2019-09-10 01:30 AM Inflation Rate YoY Aug 1.9%
2019-10-15 01:30 AM Inflation Rate YoY Sep 1.9%

China Inflation Rate Unchanged 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.

The politically sensitive food inflation jumped to a 7-1/2-year high of 8.3 percent in June from 7.7 percent in May, as prices of pork surged 21.1 percent, the fourth straight month of increase in over two years, after a 18.2 percent gain in May. In addition, prices of fresh fruits soared (42.7 percent vs 26.7 percent); and cost of edible oil rose 0.1 percent, after a flat reading in the prior month. Meanwhile, prices slowed for both eggs (6.2 percent vs 8.7 percent) and fresh vegetables (4.2 percent vs 13.3 percent).

Non-food price inflation fell to 1.4 percent in June from 1.6 percent in May. Prices rose at softer pace for rent, fuel & utilities (1.6 percent vs 1.8 percent); household goods & services (0.8 percent vs 1 percent); and education, culture & recreation (2.4 percent vs 2.6 percent). In addition, cost of transport & communication prices fell 1.9 percent, faster than a 0.9 percent drop in the previous month. On the other hand, inflation was steady for healthcare (at 2.5 percent, the same as in May), while prices rose further for both clothing (1.8 percent vs 1.7 percent); and other goods & services (2.7 percent vs 2.1 percent). 

Annual core inflation, which strips out volatile food and energy prices, came in at 1.6 percent in June, unchanged from the previous month's near 3-year low.

On a monthly basis, consumer prices fell 0.1 percent in June, after being flat in May and in line with market forecasts.

Meanwhile, China's producer price index unexpectedly was unchanged from a year earlier in June, after a 0.6 percent gain in the prior month and below market consensus of a 0.3 percent rise. It was the lowest producer inflation since August 2016, when prices declined 0.8 percent. Cost of means of production fell for the first time in four months (-0.3 percent vs 0.6 percent in May), namely raw materials (-2.1 percent vs -0.6 percent), processing (a flat reading vs 0.5 percent) and extraction (4.5 percent vs 6.1 percent). Meantime, consumer goods inflation was steady for the third month in a row (at 0.9 percent), of which food production (at 2.2 percent, the same as May), daily use goods (0.5 percent vs 0.4 percent), clothing (1.6 percent vs 1.5 percent), and durable goods (-0.9 percent vs -0.8 percent). On a monthly basis, producer prices went down 0.3 percent in June, after a 0.2 percent gain in May. Considering the first half of 2019, producer prices rose 0.3 percent.

Statistics China l Rida Husna |
7/10/2019 9:13:23 AM

China Prices Last Previous Highest Lowest Unit
Inflation Rate 2.70 2.70 28.40 -2.20 percent [+]
Inflation Rate Mom -0.10 0.00 2.60 -1.80 percent [+]
Consumer Price Index CPI 102.70 102.70 128.40 97.80 Index Points [+]
Core Consumer Prices 101.60 101.60 102.50 98.40 Index Points [+]
Core Inflation Rate 1.60 1.60 2.50 -1.60 percent [+]
GDP Deflator 656.41 630.75 656.41 100.78 Index Points [+]
Producer Prices 100.00 100.60 113.47 91.80 Index Points [+]
Producer Prices Change 0.00 0.60 13.47 -8.20 percent [+]
Export Prices 103.40 103.90 111.90 90.70 Index Points [+]
Import Prices 107.90 102.00 122.70 79.60 Index Points [+]
Food Inflation 8.30 7.70 40.20 -5.50 percent [+]

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. This page provides - China Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. China Inflation Rate - actual data, historical chart and calendar of releases - was last updated on July of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
2.70 2.70 28.40 -2.20 1986 - 2019 percent Monthly

Country Last Previous
Argentina 55.80 Jun/19
Australia 1.30 Mar/19
Brazil 3.37 Jun/19
Canada 2.00 Jun/19
China 2.70 Jun/19
Euro Area 1.30 Jun/19
France 1.20 Jun/19
Germany 1.60 Jun/19
India 3.18 Jun/19
Indonesia 3.28 Jun/19
Italy 0.70 Jun/19
Japan 0.70 Jun/19
Mexico 3.95 Jun/19
Netherlands 2.70 Jun/19
Russia 4.70 Jun/19
Saudi Arabia -1.50 May/19
Singapore 0.90 May/19
South Africa 4.50 May/19
South Korea 0.70 Jun/19
Spain 0.40 Jun/19
Switzerland 0.60 Jun/19
Turkey 15.72 Jun/19
United Kingdom 2.00 Jun/19
United States 1.60 Jun/19