China: CPI (YoY) - All Items

Macro

2026-06-10

Description

China's Consumer Price Index (CPI) is calculated and published by the National Bureau of Statistics (NBS). The CPI reflects the price changes of consumer goods and services purchased by households. The Core CPI excludes volatile items such as food and energy, providing a more stable measure of inflation.

The CPI YoY and Core CPI YoY are typically used to observe the degree of inflation and consumer purchasing power. A higher CPI YoY indicates greater inflationary pressure and decreased purchasing power, while a lower CPI YoY suggests lesser inflation and increased purchasing power. Generally, CPI YoY and Core CPI YoY between 2% and 3% are considered indicative of a healthy economy. Significant deviations from this range may prompt the People's Bank of China (PBoC) to adjust monetary policy to manage inflationary pressure.

CPI data is typically released around the 13th of each month.

Note: The difference between Seasonally Adjusted (SA) and Not Seasonally Adjusted (NSA) data lies in the fact that SA data is adjusted to eliminate the effects of seasonal patterns, providing a clearer view of long-term trends and underlying economic conditions.

Published by
National Bureau of Statistics of China (Choice)
Frequency
Monthly
Next Update
Hashtags
China Consumption CPI

AI Data Insight

China's latest CPI YoY growth rate for Q2 2026 reported at 1.2%, flat against the previous reading, but slightly missing the market expectation of 1.3%. The data shows significant structural divergence, with the non-food category strengthening driven by the rise in international energy prices, while the food category continues to face pressure due to an abundant pork supply. Going forward, close attention should be paid to the short-term impact of Middle East geopolitics on imported inflation, as well as whether core inflation can steadily sustain the recovery of domestic demand.

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AI Data Insight

China's latest CPI YoY growth rate for Q2 2026 reported at 1.2%, flat against the previous reading, but slightly missing the market expectation of 1.3%. The data shows significant structural divergence, with the non-food category strengthening driven by the rise in international energy prices, while the food category continues to face pressure due to an abundant pork supply. Going forward, close attention should be paid to the short-term impact of Middle East geopolitics on imported inflation, as well as whether core inflation can steadily sustain the recovery of domestic demand.

Dive in →

You May Also Like

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Description

China's Consumer Price Index (CPI) is calculated and published by the National Bureau of Statistics (NBS). The CPI reflects the price changes of consumer goods and services purchased by households. The Core CPI excludes volatile items such as food and energy, providing a more stable measure of inflation.

The CPI YoY and Core CPI YoY are typically used to observe the degree of inflation and consumer purchasing power. A higher CPI YoY indicates greater inflationary pressure and decreased purchasing power, while a lower CPI YoY suggests lesser inflation and increased purchasing power. Generally, CPI YoY and Core CPI YoY between 2% and 3% are considered indicative of a healthy economy. Significant deviations from this range may prompt the People's Bank of China (PBoC) to adjust monetary policy to manage inflationary pressure.

CPI data is typically released around the 13th of each month.

Note: The difference between Seasonally Adjusted (SA) and Not Seasonally Adjusted (NSA) data lies in the fact that SA data is adjusted to eliminate the effects of seasonal patterns, providing a clearer view of long-term trends and underlying economic conditions.

Published by
National Bureau of Statistics of China (Choice)
Frequency
Monthly
Next Update
Hashtags
China Consumption CPI