China's annual inflation rate edged up to 0.6% in August 2024 from 0.5% in July, falling short of market forecasts of 0.7%. Still, it was the highest print since February, marking the 7th straight month of consumer inflation amid supply issues due to flaming heat and pouring rains. Food prices rose for the first time since June 2023, with their rate of increase the fastest in 19 months (2.8% vs flat reading in July) as fresh vegetables rebounded sharply. Meanwhile, non-food prices increased 0.2% yoy, much slower than the prior 0.7%, on softer rises in cost of clothing (1.4% vs 1.5%), housing (flat reading vs 0.1%), health (1.3% vs 1.4%), and education (1.3% vs 1.7%). At the same time, transport costs fell at a steeper rate (-2.7% vs -0.6%), with lower oil prices offsetting higher cost of utilities. Core consumer prices, deducting food and energy costs, increased 0.3% yoy, the least since March 2021. Monthly, the CPI rose 0.4%, the second month of gain but lower than consensus of 0.5%. source: National Bureau of Statistics of China

Inflation Rate in China increased to 0.60 percent in August from 0.50 percent in July of 2024. Inflation Rate in China averaged 4.66 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 September of 2024.

Inflation Rate in China increased to 0.60 percent in August from 0.50 percent in July of 2024. Inflation Rate in China is expected to be 0.40 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 1.00 percent in 2025 and 1.50 percent in 2026, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2024-08-09 01:30 AM
Inflation Rate YoY
Jul 0.5% 0.2% 0.3% 0.2%
2024-09-09 01:30 AM
Inflation Rate YoY
Aug 0.6% 0.5% 0.7% 0.5%
2024-10-13 01:30 AM
Inflation Rate YoY
Sep 0.6% 0.4%

Components Last Previous Unit Reference
Rent Inflation -0.30 -0.20 percent Jul 2024

Related Last Previous Unit Reference
Consumer Price Index CPI 103.60 103.20 points Aug 2024
Core Consumer Prices 100.80 100.40 points Aug 2024
Core Inflation Rate 0.30 0.40 percent Aug 2024
Core Inflation Rate MoM 0.30 -0.10 percent Jul 2024
Food Inflation 2.80 0.00 percent Aug 2024
GDP Deflator 736.70 723.77 points Dec 2022
Inflation Rate YoY 0.60 0.50 percent Aug 2024
Inflation Rate MoM 0.40 0.50 percent Aug 2024
Producer Price Inflation MoM -0.70 -0.20 percent Aug 2024
Producer Prices 106.30 107.10 points Aug 2024
PPI YoY -1.80 -0.80 percent Aug 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
0.60 0.50 28.40 -2.20 1986 - 2024 percent Monthly


News Stream
China Inflation Rate Below Estimates
China's annual inflation rate edged up to 0.6% in August 2024 from 0.5% in July, falling short of market forecasts of 0.7%. Still, it was the highest print since February, marking the 7th straight month of consumer inflation, amid supply issues due to flaming heat and pouring rains. Food prices rose for the first time since June 2023, with their rate of increase the fastest in 19 months (2.8% vs flat reading in July) as fresh vegetables rebounded sharply. Meanwhile, non-food prices increased 0.2% yoy, much slower than the prior 0.7%, on softer rises in cost of clothing (1.4% vs 1.5%), housing (flat reading vs 0.1%), health (1.3% vs 1.4%), and education (1.3% vs 1.7%). At the same time, transport costs fell at a steeper rate (-2.7% vs -0.6%), with lower oil prices offsetting higher cost of utilities. Core consumer prices, deducting food and energy costs, increased 0.3% yoy, the least since March 2021. Monthly, the CPI rose 0.4%, the second month of gain but lower than consensus of 0.5%.
2024-09-09
China Inflation Rate Hits 5-Month Peak
China's annual inflation rate climbed to 0.5% in July 2024 from 0.2% in June, exceeding market forecasts of 0.3% and pointing to the highest figure since February. It was also the sixth straight month of consumer inflation, as Beijing ramped up stimulus to bolster consumption. Food prices tried to reverse declines in the prior twelve months (flat reading vs -2.1% in June) amid adverse weather. Meanwhile, non-food prices continued to increase (0.7% vs 0.8%), marked by sustained rises in cost of clothing (1.5% vs 1.5%), housing (0.1% vs 0.2%), health (1.4% vs 1.5%), and education (1.7% vs 1.7%). However, transport costs fell further (-0.6% vs -0.3%), as the impact of utility price hikes and higher railway tickets in some Chinese cities earlier in the year swiftly faded. The core consumer prices, deducting food and energy costs, increased 0.4% yoy, the least in 6 months. Monthly, the CPI rose by 0.5%, the first gain since April and above consensus of 0.3%.
2024-08-09
China Inflation Rate Below Forecasts
China's annual inflation rate edged down to 0.2% in June 2024 from 0.3% in the prior two months, falling short of market estimates of 0.4%. It was the fifth straight month of consumer inflation but the lowest figure since March amid a fragile economic recovery. Food prices slipped for the 12th month (-2.1% vs -2.0%) despite a steep acceleration in pork prices during the Dragon Boat Festival. Meanwhile, non-food inflation was stable (at 0.8%), with prices rising further for clothing (1.5% vs 1.6% in May), housing (0.2% vs 0.2%), health (1.5% vs 1.5%), and education (1.7% vs 1.7%). At the same time, transport cost continued to fall (-0.3% vs -0.2%), as moves from some of China’s public utility companies to raise utility prices earlier in the year had a limited impact. The core consumer prices, deducting food and energy costs, increased 0.6% yoy, the same as in May. Monthly, the CPI declined by 0.2%, the third time of fall so far this year, compared with the consensus of a 0.1% fall.
2024-07-10