China Inflation Rate

Last Release

Mar 31, 2024

Actual

0.1

Units In

0.7

Frequency

Monthly

Next Release

May 11, 2024

Time to Release

28 Days 19 Hours

Highest	Lowest	Average	Date Range	Source
28.4 Feb 1989	-2.2 Apr 1999	4.7 %	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 consumer prices edged up 0.1% yoy in March 2024, compared with market forecasts of 0.4% and after a 0.7% rise in the previous month. The notable slowdown came as the effects of the Lunar New Year waned, with non-food inflation easing (0.7% vs 1.1% in February) as the cost of education moderated sharply (1.8% vs 3.9%) while transport prices fell further (-1.3% vs -0.4%). Simultaneously, inflation was unchanged for clothing (at 1.6%), housing (at 0.2%), and health (at 1.5%). On the food side, prices fell much steeper (-2.7% vs -0.9%), as costs of pork and fresh vegetables turned lower following rises in February. The core consumer prices, deducting food and energy prices, increased by 0.6% yoy in March, slowing from the prior 1.2% which was the fastest rise since January 2022. Monthly, the CPI decreased 1.0%, the first fall in four months and a reversal from a 1.0% rise in February. It came worse than estimates of a 0.5% drop, pointing to the steepest monthly fall in 3 years.