China Inflation Rate

Last Release

Oct 31, 2024

Actual

0.3

Units In

0.4

Frequency

Monthly

Next Release

Dec 09, 2024

Time to Release

27 Days 17 Hours

Highest	Lowest	Average	Date Range	Source
28.4 Feb 1989	-2.2 Apr 1999	4.64 %	1986-2024	National Bureau of Statistics of China

In China, the most important components of the CPI basket are Food (31.8 percent of total weight) and Residence (17.2 percent). Recreation, Education and Culture Articles account for 13.8 percent; Transportation and Communication for 10 percent, Healthcare and Personal Articles for 9.6 percent, Clothing for 8.5 percent; Households Facilities, Articles and Services for 5.6 percent; Tobacco, Liquor and Articles for the remaining 3.5 percent. The CPI basket is reviewed every five years on the basis of household surveys. Revisions reflect new spending patterns and economic development, according to the National Bureau of Statistics. Last revision took place in 2011.

Latest Updates

China’s annual inflation rate stood at 0.3% in October 2024, compared with market estimates and September’s figure of 0.4%. This marked the ninth straight month of consumer inflation but the lowest reading since June, underscoring rising deflation risks despite Beijing’s stimulus measures in late September to support the slowing economy. Non-food prices continued to decline (-0.3% vs -0.2% in September), largely driven by further drops in the cost of transport (-4.8% vs -4.1%) and housing (-0.1% vs -0.1%). In contrast, prices increased for healthcare (1.1% vs. 1.2%) and education (0.8% vs 0.6%). On the food side, prices moderated after experiencing their sharpest rise in 20 months in September (2.9% vs 3.3%). Core consumer prices, excluding food and energy, rose 0.2% yoy after the smallest gain since February 2021 of 0.1% in September. Monthly, the CPI fell by 0.3%, exceeding the consensus of a 0.1% decline, following a flat reading in September.