Inflation in China
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
|Inflation Rate (CPI, annual variation in %)||2.6||2.0||1.4||2.0||1.6|
5 years of economic forecasts for more than 30 economic indicators.
China Inflation Chart
Source: National Bureau of Statistics of China and FocusEconomics calculations.
|Bond Yield||3.08||-0.40 %||Sep 04|
|Exchange Rate||7.15||-0.19 %||Sep 04|
|Stock Market||2,957||-0.34 %||Sep 04|
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September 11, 2019
In August, Chinese banks distributed CNY 1.21 trillion (USD 170 billion) in new yuan loans.
September 10, 2019
Consumer prices rose 0.7% from the previous month in August, following July’s 0.4% increase.
September 8, 2019
In August, exports fell 1.0% over the same month last year.
August 31, 2019
The manufacturing Purchasing Managers’ Index (PMI) published by the National Bureau of Statistics (NBS) and the China Federation of Logistics and Purchasing (CFLP) decreased to 49.5% in August from July’s 49.7%.
August 20, 2019
While initially threatening to slap a 10% tariff on the remaining USD 300 billion of imports from China, U.S. President Donald Trump partially backed down in mid-August by postponing imposing tariffs on a list of consumer goods from 1 September to 15 December.