China Inflation September 2017


China: Inflation falls in September

October 16, 2017

In September, consumer prices rose 0.5% from the previous month, up from August’s 0.4% increase. The reading mainly reflected higher prices for health care, education, culture and recreation and clothing.

Inflation fell from August’s 1.8% to 1.6% in September, meeting the result that market analysts had expected. Annual average inflation, meanwhile, declined from August’s 1.7% to 1.6% in September.

Producer inflation came in at 6.9% in September (August: 6.3%), overshooting market analysts’ expectations of 6.4%. Annual average producer inflation rose from August’s 5.1% to 5.7% in September, marking the highest reading since January 2012.

The government set an inflation target of 3.0% for 2017. FocusEconomics Consensus Forecast participants expect that consumer inflation will average 1.8% in 2017. In 2018, the panel sees consumer inflation at 2.2%, which is unchanged from last month’s estimate. Meanwhile, the panel expects producer inflation to be 5.0% in 2017. In 2018, panelists see producer inflation at 0.8%, which is down 0.2 percentage points from last month.

Author: Ricard Torné, Lead Economist

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China Inflation Chart

China Inflation September 2017

Note: Year-on-year and annual average variation of consumer price index in %.
Source: National Bureau of Statistics of China (NBS).

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