China sees decline in inflation rates as CPI drops in January 2024

12 Feb '24

1 min read

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Insights

In January 2024, China's inflation rate declined, with the CPI decreasing by 0.8 per cent year-on-year.
However, month-on-month, the CPI saw a minor increase of 0.3 per cent.
The core CPI, excluding food and energy, rose by 0.4 per cent from the previous year, while the PPI experienced a 2.5 per cent decrease, signalling a drop in producer prices.

China has witnessed a decrease in its inflation rate for January 2024, with the consumer price index (CPI) falling by 0.8 per cent compared to the same month last year, according to a recent update from the National Bureau of Statistics (NBS). Despite the year-on-year (YoY) decrease, the CPI experienced a slight increase of 0.3 per cent on a month-on-month basis.

Additionally, when excluding the volatile sectors of food and energy, the core CPI saw a modest rise of 0.4 per cent from the previous year.

In contrast, the producer price index (PPI), an indicator of the average change in prices from the perspective of domestic producers for their output, fell by 2.5 per cent YoY in January 2024, as per NBS.

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