Monthly inflation rate in China February 2020

The graph shows the inflation rate in China from February 2018 to February 2020. In February 2020, the inflation rate in China ranged at 5.2 percent. The term inflation means the devaluation of money caused by a permanent increase of the price level for products such as consumer or investment goods. For comparison, inflation in India amounted to 3.43 percent as of 2018.

Inflation rate in China – additional information

The Inflation rate is most commonly measured by the Consumer Price Index. The Consumer Price Index shows the price development for private expenses and shows the current level of inflation when increasing. A positive inflation rate reflects a rise in prices. Between 2007 and 2018, China only once experienced a deflation situation, with price levels decreasing by roughly 0.7 percent in 2009.

Monthly inflation in China between August 2018 and August 2019 was moderate compared to other emerging markets. In 2018, the monthly inflation rates of Brazil, Russia and India ranged from 2.2 percent to 5.5 percent, while in China the figures were between 1.5 percent and 2.8 percent. Only from October 2018 on, inflation in China began to exceed 3 percent.

In China, there is a regional difference in inflation rates. As of December 2019, Hainan province experienced the highest CPI at 106.5 percent, while Ningxia reported a CPI growth of 2.8 percent. According to the National Bureau of Statistics of China, as of December 2019, inflation was mainly fuelled by a surge in food sector prices, as they had increased by 12.9 percent compared to previous year. The price gain in other non-food sectors was relatively slight. Transportation and communication prices even decreased by 0.7 percent compared with the year before.

Low inflation might be good news for consumers and businesses, but it also indicates slower expansion of the economy. As stated in research by IMF, GDP growth momentum in China has cooled down since 2010. With a population of about 1.4 billion people, China outpaced Japan as the world’s second-biggest economy in 2010. According to a forecast by Goldman Sachs, China’s GDP will amount to about 32 trillion U.S. dollars in 2030, surpassing the United States as the world’s leading economic power.

Inflation rate in China from February 2018 to February 2020

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Source

Release date

March 2020

Region

China

Survey time period

February 2018 to February 2020

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Statistics on "Consumer Price Index and inflation rate in China"

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