Inflation in China

China Inflation (eop) | Economic News & Forecasts

China - Inflation (end of period)

Inflation drops in March as coronavirus hits demand and low oil prices bite

Consumer prices fell 1.2% over the previous month in March, contrasting February’s 0.8 % increase. The print mostly reflected lower food prices, especially for fresh vegetables and meat, as well as a decline in prices for transportation and communication, mostly reflecting a drop in oil prices.

Inflation declined from 5.2% in February to 4.3% in March. Moreover, the print was below the 4.9% that market analysts had expected and was the lowest reading in five months. Annual average inflation rose from 3.5% in February to 3.7% in March, the highest in almost eight years, since August 2012.

Annual producer prices (PPI), meanwhile, fell 1.5% year-on-year in March. The print exceeded the 0.4% fall in February and was sharper than the 1.1% decrease that market analysts had expected. The decline mostly reflected a sharp drop in prices for extraction of petroleum and natural gas.

FocusEconomics panelists forecast that inflation will average 3.3% in 2020, which is up 0.1 percentage points from last month’s estimate, and 2.3% in 2021. Meanwhile, the panel expects producer prices to fall by 0.5% in 2020, which is slightly down from last month’s 0% projection, before rebounding to a 1.2% rise in 2021.

China - Inflation (eop) Data

2014   2015   2016   2017   2018  
Inflation Rate (CPI, annual variation in %, eop)1.5  1.6  2.1  1.8  1.9  

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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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