CPI YoY China
Event Date: Wednesday, August 9, 2023
Event Time: 01:30 CET
Updated Monday, August 7, 2023
Inflation has been softening around the globe in the last two years, as we have seen in many major/developed economies. But, it has been increasing in China, despite the trade war and the decline in the manufacturing economy. Will this be another toxic combination of low growth and high inflation like in Germany in the '30s? CPI has been increasing from 2.8% back in August, to 3.0% in October, 3.8% in November, and 4.5% in December. In January though, we saw another jump to 5.4%, so, prices are surging in China and CPI came in at 5.2% in February. But, in March inflation fell to 4.3%, while in April it cooled off further to 3.3%. PPI on the other hand, declined for the third time, by 3.8% that month, ac Oil imports became cheaper. In May CPI YoY fell to 2.4% as the weakening trend continued, but inflation reversed and posted a small increase to 2.5% in June and to 2.7% in July. It cooled off in August in China to 2.4%, and further to 1.7% in September, while PPI remains negative at -2.1%. In October CPI cooled off to 0.5%, while declining by 0.5% in November, but in December we saw a 0.2% increase. Although it turned negative again in January and February. In March we saw a 0.4% increase though, which turned into 0.9% in April. In May it came at 1.3% while cooling off to 1.1% in June. CPI fell flat at 0.0% in June but it is expected to decline by 0.3% in July. Please follow us for live coverage of this event by experienced market analysts.
<% indicator.indicator_name %>
<% indicator.indicator_value %>
<% ssp.ssp_posted_at |date:"HH:mm" %>
About CPI YoY China
Change in the price of goods and services purchased by consumers. 'Actual' greater than 'Forecast' is good for currency. Released monthly, usually about 10 days after the month ends. Consumer prices account for a majority of overall inflation. Inflation is important to currency valuation because rising prices lead the central bank to respond by raising interest rates. The average price of various goods and services are sampled and then compared to the sampling done a year earlier.