China Inflation April 2019


China: Inflation climbs to six-month high in April

May 9, 2019

Consumer prices rose 0.1% from the previous month in April, contrasting March’s 0.4% decrease. The increase was primarily driven by higher prices for household articles and services as well as for recreation, education and cultural services.

Inflation rose from March’s 2.3% to 2.5% in April. The print represented the highest reading in six months and was in line with the result that market analysts had expected. Annual average inflation inched up from March’s 2.0% to 2.1% in April.

Producer price inflation (PPI), meanwhile, rose from March’s 0.4% to 0.9% in April. The reading was above the market analysts’ expectations of 0.6%.

FocusEconomics Consensus Forecast participants expect that consumer inflation will average 2.2% in 2019, which is unchanged from last month’s estimate. In 2020, the panel also sees consumer inflation at 2.2%. Meanwhile, the panel expects producer inflation to be 1.7% in 2019, which is down 0.4 percentage points from last month’s projection. In 2020, panelists also see producer inflation at 1.7%.

Author: Ricard Torné, Lead Economist

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China Inflation Chart

China Inflation April 2019

Note: Annual and monthly variation of consumer price index and annual variation of producer price index in %.
Source: National Bureau of Statistics of China (NBS).

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