China Inflation October 2018

China

China: Inflation stabilizes in October

November 9, 2018

Consumer prices rose 0.2% from the previous month in October, down from September’s 0.7% increase. The reading was primarily driven by higher prices for clothing and footwear as well as for transportation and communication. Moreover, the fresh vegetables category logged the sharpest drop in five months.

Inflation stabilized at September’s 2.5% in October, matching the result expected by market analysts. Annual average inflation inched up to a nearly two -year high of 2.1% in October from 2.0% in September.

Producer price inflation, meanwhile, slowed to 3.3% in October from 3.6% in September, just in line with market analysts’ expectations. Easing producer price inflation signals that domestic demand is weakening.

FocusEconomics Consensus Forecast participants expect that consumer inflation will average 2.3% in 2019, which is unchanged from last month’s estimate. In 2020, the panel also sees consumer inflation at 2.3%. Meanwhile, the panel expects producer inflation to be 2.3% in 2019, which is unchanged from last month’s projection. In 2020, panelists see producer inflation at 1.8%.


Author: Ricard Torné, Lead Economist

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China Inflation Chart


China Inflation October 2018

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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