AI Data Insight
China's latest Food, Tobacco and Alcohol CPI YoY growth rate dropped to -1.7% in Q3 2026, further widening the decline from the previous -1.4% and remaining deeply mired in the deflationary territory for consecutive months. Although energy costs pushed the overall CPI up to 0.9%, the sharp decline in pork and fresh vegetable prices highlights that terminal consumer demand remains sluggish. Looking ahead, close attention must be paid to whether authorities will step up pro-consumption and monetary easing policies.