City skyline in China

China Inflation April 2022

China: Consumer inflation comes in at highest level since November 2021 in April; producer inflation dips

Consumer prices increased 0.37% from the previous month in April, after March’s flat result. The reading was primarily driven by increasing prices for food and transport. In particular, food prices were affected by logistics problems and stockpiling as a result of Covid-19 restrictions. In contrast, housing costs declined as the real estate sector was hit by weak demand.

Consumer inflation rose to 2.1% in April from March’s 1.5%. April’s result was the highest inflation rate since November 2021 and beat market expectations of 1.8%. Annual average inflation rose to 1.3% in April (March: 1.2%). Lastly, producer price inflation fell to 8.0% in April, from the previous month’s 8.3%, marking the lowest reading in one year.

Looking forward, consumer price inflation is expected to trend up somewhat but will likely stay mild nonetheless on limp domestic demand. Meanwhile, producer price inflation should gradually trend down on a base effect, given increasingly high producer price inflation readings as last year progressed, despite Covid-19-induced supply difficulties and an unfavorable international price environment.

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest