The consumer price index in China unexpectedly declined by 0.5 percent year-on-year in November of 2020, after a 0.5 percent rise a month earlier and compared with market consensus of a flat reading. This was the first deflation rate since October of 2009 as food prices dropped for the first time in nearly three years (-2 percent), with prices of pork tumbling after soaring last year due to the African Swine outbreak. Also, there were falls in cost of transport (-3.9 percent vs -3.9 percent in October); rent, fuel, and utilities (-0.6 percent vs -0.7 percent); and clothing (-0.3 percent vs -0.3 percent). Meanwhile, prices of household goods and services were flat (vs -0.1 percent), while cost rose for health (1.5 percent vs 1.5 percent); education (1 percent vs 1.1 percent); and other goods and services (2.5 percent vs 2.4 percent). On a monthly basis, consumer prices fell by 0.6 percent, the steepest drop since May, and following a 0.3 percent decline in October. source: National Bureau of Statistics of China
Inflation Rate in China averaged 5.06 percent from 1986 until 2020, reaching an all time high of 28.40 percent in February of 1989 and a record low of -2.20 percent in April of 1999. This page provides - China Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. China Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on December of 2020.
Inflation Rate in China is expected to be -0.70 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in China to stand at 2.20 in 12 months time. In the long-term, the China Inflation Rate is projected to trend around 1.90 percent in 2021, according to our econometric models.