While food prices have spiked, there has been little sign of a pick-up in inflation across the broader economy, suggesting demand remains sluggish. China's annual inflation rate rose to 2.7 percent in July 2020, recovering further from a 14-month low hit in May and slightly beating market expectations of 2.6 percent.
Non-food inflation also slowed to 0.4 percent from 0.7 percent, amid falls in cost of clothing (-0.4 percent vs -0.3 percent), rent, fuel and utilities (-0.3 percent vs -0.1 percent), and transport & communication (-4.9 percent vs -3.8 percent). July 21, 2020.
Inflation Rate in China is expected to be 2.10 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. The State Council Information Office and the National Development and Reform Commission - the state planner, did not immediately respond to Reuters’ requests for comment. REUTERS/Jason Lee Core inflation - which excludes food and energy prices - has stayed largely subdued.
Food inflation hit its highest in three months (13.2 percent vs 11.1 percent in June), amid the coronavirus pandemic and damage caused by floods in central and southern of the country.
The CPI basket is reviewed every five years on the basis of household surveys. Inflationsrate (Jahres)
Inflation was flat for other goods and services (at 5.1 percent), while prices increased at a slower pace for both healthcare (1.6 percent vs 1.9 percent) and education, culture & recreation (0.3 percent vs 1.9 percent).
Inflation Rate YoY
Inflation Rate YoY
Inflation Rate YoY
On a monthly basis, consumer prices dropped 0.9 percent, after a 1.2 percent decline in March.In China, the most important components of the CPI basket are Food (31.8 percent of total weight) and Residence (17.2 percent).
China’s inflation is set to drift down in the months ahead as food prices cool and slack household demand saps strength from prices of goods and services. Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices. Meantime, cost fell for transport (-4.6 percent vs -5.1 percent), rent, fuel, and utilities (-0.6 percent vs -0.5 percent) and clothing (-0.4 percent, the same as in May). Food inflation accelerated to 11.1 percent from 10.6 percent in May as pork prices continued to rise (81.6 percent vs 81.7 percent). Inflationsrate (Jahres)
TEForecast
While overall inflation may not be high, he added, rising prices for visible goods like pork, fruit and vegetables can affect consumer spending — a potential problem for China’s economy.
Inflation Rate YoY
This was the lowest rate since September 2019 as the COVID-19 crisis deepened. Reference
Diese Werte, historische Daten, Prognosen, Statistiken, Diagramme und ökonomische Kalender - Philippinen - Inflationsrate. Inflation Rate YoY
Meantime, cost fell for both rent, fuel and utilities (-0.5% vs -0.1%) and transport (-5.1% vs -3.8%). The Trading Economics Application Programming Interface (API) provides direct access to our data. The inflation in China was caused by “cost-push inflation. Meantime, non-food inflation was unchanged at 0.4% as cost of other goods and services rose by 5.3%, the same as in April, while there were rises in cost of clothing (2.3% vs -0.3%), household goods (0.1% vs 0.3%), education, culture (2.2 % vs 2.5%), and healthcare (2.1% vs 2.2 %).
China's consumer inflation edged up in July, official data showed Monday, in part due to rising food prices from flood-related disruptions and as the country continues its recovery from the coronavirus outbreak.
Inflation Rate YoY
Meantime, prices for non-food products and services were unchanged, after rising in June. While Beijing has rolled out a series of support measures in the last two years, mainly in the form of higher infrastructure spending and tax cuts, leaders have pledged they will not embark on massive stimulus like that during the 2008-09 global crisis, which saddled the economy with a mountain of debt.
“Currently, the CPI rise is mainly due to pork prices - this is a structural, not a broad-spread price rise.
Recreation, Education and Culture Articles account for 13.8 percent; Transportation and Communication for 10 percent, Healthcare and Personal Articles for 9.6 percent, Clothing for 8.5 percent; Households Facilities, Articles and Services for 5.6 percent; Tobacco, Liquor and Articles for the remaining 3.5 percent. Inflation Rate YoY
Inflation Rate in China is expected to be 2.10 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. The diverging price trends have complicated policymakers’ efforts to revive activity without risking overstimulating the economy. It means that the cost of firms increase, in this case it is higher wages, and the firms are forced to raise prices inorder to cover the costs. Inflation Rate YoY
It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds. TEForecast
At the same time, cost fell for transport (-4.4 percent vs -4.6 percent), rent, fuel, and utilities (-0.7 percent vs -0.6 percent), household goods and services (-0.1 percent vs 0.0 percent), and clothing (-0.5 percent vs -0.4 percent). Inflation Rate YoY
The Dow climbed 0.3% around 10 minutes after the opening bell, the S&P 500 added 0.5% to hit a 23-week high and the Nasdaq Composite gained more than 1% to an all-time high.
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