China Food Inflation

China’s food prices rose 0.2% year-on-year in November 2025, reversing a 2.9% drop in the previous month and marking the first increase since January. The rebound was primarily driven by increases in the prices of fresh vegetables (14.5% vs -7.3% in October) and fresh fruit (0.7% vs -2.0%), likely reflecting seasonal demand and tighter supply conditions as winter approached. Meanwhile, several key categories continued to weigh on overall food inflation. Prices fell further for eggs (-12.5% vs -11.6%), cooking oils (-1.2% vs -1.1%), and dairy products (-1.6% vs -1.7%). Pork, a core household staple, also remained weak, though the rate of decline moderated (-15.0% vs -16.0%), suggesting easing downward pressure.