China's consumer prices edged up 0.1% yoy in March 2024, compared with market forecasts of 0.4% and after a 0.7% rise in the previous month. The notable slowdown came as the effects of the Lunar New Year waned, with non-food inflation easing (0.7% vs 1.1% in February) as the cost of education moderated sharply (1.8% vs 3.9%) while transport prices fell further (-1.3% vs -0.4%). Simultaneously, inflation was unchanged for clothing (at 1.6%), housing (at 0.2%), and health (at 1.5%). On the food side, prices fell much steeper (-2.7% vs -0.9%), as costs of pork and fresh vegetables turned lower following rises in February. The core consumer prices, deducting food and energy prices, increased by 0.6% yoy in March, slowing from the prior 1.2% which was the fastest rise since January 2022. Monthly, the CPI decreased 1.0%, the first fall in four months and a reversal from a 1.0% rise in February. It came worse than estimates of a 0.5% drop, pointing to the steepest monthly fall in 3 years. source: National Bureau of Statistics of China

Inflation Rate in China decreased to 0.10 percent in March from 0.70 percent in February of 2024. Inflation Rate in China averaged 4.70 percent from 1986 until 2024, 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. China Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on April of 2024.

Inflation Rate in China decreased to 0.10 percent in March from 0.70 percent in February of 2024. Inflation Rate in China is expected to be 0.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the China Inflation Rate is projected to trend around 2.20 percent in 2025, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2024-03-09 01:30 AM
Inflation Rate YoY
Feb 0.7% -0.8% 0.3% 0.3%
2024-04-11 01:30 AM
Inflation Rate YoY
Mar 0.1% 0.7% 0.4% 0.5%
2024-05-11 01:30 AM
Inflation Rate YoY
Apr 0.1% 0.3%

Components Last Previous Unit Reference
Rent Inflation 0.00 0.00 percent Mar 2024

Related Last Previous Unit Reference
Consumer Price Index CPI 103.10 104.20 points Mar 2024
Core Consumer Prices 100.60 101.20 points Mar 2024
Core Inflation Rate 0.60 1.20 percent Mar 2024
Core Inflation Rate MoM -0.60 0.50 percent Mar 2024
Food Inflation -2.70 -0.90 percent Mar 2024
GDP Deflator 736.70 723.77 points Dec 2022
Inflation Rate YoY 0.10 0.70 percent Mar 2024
Inflation Rate MoM -1.00 1.00 percent Mar 2024
Producer Price Inflation MoM -0.10 -0.20 percent Mar 2024
Producer Prices 107.50 107.60 points Mar 2024
PPI YoY -2.80 -2.70 percent Mar 2024

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.
Actual Previous Highest Lowest Dates Unit Frequency
0.10 0.70 28.40 -2.20 1986 - 2024 percent Monthly

News Stream
China Consumer Prices Rise Less than Expected
China's consumer prices edged up 0.1% yoy in March 2024, compared with market forecasts of 0.4% and after a 0.7% rise in the previous month. The notable slowdown came as the effects of the Lunar New Year waned, with non-food inflation easing (0.7% vs 1.1% in February) as the cost of education moderated sharply (1.8% vs 3.9%) while transport prices fell further (-1.3% vs -0.4%). Simultaneously, inflation was unchanged for clothing (at 1.6%), housing (at 0.2%), and health (at 1.5%). On the food side, prices fell much steeper (-2.7% vs -0.9%), as costs of pork and fresh vegetables turned lower following rises in February. The core consumer prices, deducting food and energy prices, increased by 0.6% yoy in March, slowing from the prior 1.2% which was the fastest rise since January 2022. Monthly, the CPI decreased 1.0%, the first fall in four months and a reversal from a 1.0% rise in February. It came worse than estimates of a 0.5% drop, pointing to the steepest monthly fall in 3 years.
2024-04-11
China Consumer Prices Rise for First Time in 6 Months
China's consumer prices rose by 0.7% yoy in February 2024, above market forecasts of 0.3% and a turnaround from the sharpest drop in over 14 years of 0.8% in January. The latest result was the first consumer inflation since last August, hitting its highest level in 11 months due to robust spending during the Lunar New Year holiday. Food prices declined the least in eight months (-0.9% vs -5.9% in January), reflecting upturns in costs of pork and fresh vegetables. Meantime, non-food inflation sharply accelerated to 1.1% from the prior 0.4%, with prices rising further for clothing (1.6% vs 1.6%), housing (0.2% vs 0.3%), health (1.5% vs 1.3%), and education (3.9% vs 1.3%); while a fall in transport prices strongly moderated (-0.4% vs -2.4%). The core CPI, deducting food and energy prices, increased by 1.2% yoy in February, the most since January 2022. Monthly, consumer prices increased 1.0%, marking the third straight month of rise and hitting its highest level since January 2021.
2024-03-09
China Consumer Prices Drop the Most in Over 14 Years
China's consumer prices fell by 0.8% yoy in January 2024, the most in more than 14 years and worse than market forecasts of a 0.5% fall. It was the fourth straight month of decline in CPI, the longest streak of drop since October 2009. Food prices declined at a record pace (-5.9% vs -3.7% in December). Meanwhile, non-food inflation was down to 0.4% (vs 0.5%), as a decline in transport prices quickened (-2.4% vs -2.2%) while cost continued to rise for clothing (1.6% vs 1.4%), housing (0.3% vs 0.3%), health (1.3% vs 1.4%) and education (1.3% vs 1.8%). Core consumer prices, which exclude prices of food and energy, increased by 0.4% yoy in January, the softest rise since last June, after a 0.6% gain in the prior three months. Monthly, the CPI rose by 0.3%, indicating the second straight month of increase and hitting its highest level since last August. In 2023, consumer prices rose by 0.2%.
2024-02-08