Inflation in China

China Inflation (eop) | Economic News & Forecasts

China - Inflation (end of period)

Consumer price inflation comes in at highest level since July 2020 in June

Consumer prices were unchanged in June over the previous month, following May's 0.20% fall, with higher transport prices offset by lower food prices.

Consumer inflation came in at 2.5% in June, which was up from May’s 2.1%. June's result was the highest inflation rate since July 2020. Meanwhile, the trend pointed up mildly, with annual average inflation coming in at 1.5% in June (May: 1.4%). Finally, producer price inflation fell to 6.1% in June, from the previous month's 6.4%.

Consumer price inflation is expected to trend up somewhat over the next few quarters as domestic demand recovers, but will likely stay mild by regional standards. Meanwhile, producer price inflation should continue to trend down on a base effect—given increasingly high producer price inflation readings as last year progressed—and as domestic supply difficulties ease.

FocusEconomics panelists forecast that consumer price inflation will average 2.2% in 2022, which is unchanged from last month’s estimate, and 2.3% in 2023. Producer price inflation is forecast to average 5.8% in 2022, which is up 0.5 percentage points from last month’s forecast, and 1.4% in 2023.

China - Inflation (eop) Data

2015   2016   2017   2018   2019  
Inflation Rate (CPI, annual variation in %, eop)1.6  2.1  1.8  1.9  4.5  

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China Inflation (eop) Chart

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

China Facts

Value Change Date
Bond Yield3.17-0.40 %Dec 31
Exchange Rate6.96-0.19 %Jan 01

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