Summary
- China’s consumer price index (CPI) has risen for four consecutive months, adding to signs that deflationary pressure may be easing.
- January CPI rose 0.2% year on year, missing the 0.4% Reuters and Bloomberg forecast, but extending the uptrend since October last year.
- China’s National Bureau of Statistics said consumer demand is recovering, with core CPI up 0.3% month on month to the highest level in six months.
Forecast Trend Report by Period
China’s consumer price index (CPI) rose for a fourth consecutive month. The run has fueled expectations that deflationary pressure—falling prices amid a slowing economy—that had weighed on China may be starting to ease.
According to the National Bureau of Statistics of China on the 11th, China’s CPI last month increased 0.2% from a year earlier. It came in slightly below the 0.4% forecast by Reuters and Bloomberg, but has been on an upward track since October last year.
In January, food prices fell 0.7% from a year earlier, but non-food prices rose 0.4%, driving the overall CPI increase. Over the same period, goods prices climbed 0.3% and services prices advanced 0.1%. As the property-market crisis, worsening labor conditions, and weak domestic demand converged, China’s annual CPI inflation rate last year (0%) fell to the lowest level in 16 years since 2009.
The NBS said, “Prices remain at a low level, but consumer demand is recovering,” adding that core CPI excluding food and energy rose 0.3% month on month to the highest level in six months.
Beijing—Correspondent Kim Eun-jung kej@hankyung.com
Korea Economic Daily
hankyung@bloomingbit.ioThe Korea Economic Daily Global is a digital media where latest news on Korean companies, industries, and financial markets.
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