Inflation in China

China Inflation | Economic News & Forecasts

China - Inflation

Inflation stabilizes in August

Consumer prices rose 0.7% from the previous month in August, following July’s 0.4% increase. The print mostly reflected higher prices for food, especially a surge in pork prices as the country is grappling with a shortage of pork supply amid a swine fever outbreak. Analysts estimate that China's pig herd could halve by the end of this year.

Inflation was stable at July’s 2.8% in August. The print was above market analysts’ expectations of 2.6%. Annual average inflation was unchanged at the previous month’s 2.8% in August.

Annual producer prices (PPI), meanwhile, fell 0.8% year-on-year, following July’s 0.3% decline and representing the steepest drop since August 2016. That said, the decrease was smaller than the 0.9% decline expected by market analysts.

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%.

China - Inflation Data

2013  2014  2015  2016  2017  
Inflation Rate (CPI, annual variation in %)2.6  2.0  1.4  2.0  1.6  

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China Inflation Chart

China Inflation
Note: Annual variation of consumer price index (CPI) in %.
Source: National Bureau of Statistics of China and FocusEconomics calculations.

China Facts

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