In December 2020, China’s Consumer Price Index (CPI) increased by 0.2% year-on-year or 0.7% month-on-month.
Both urban and rural areas grew by 0.2%; the prices of food stuff went up by 1.2, while that of non-food stuff unchanged. The prices of consumer goods rose by 0.2 percent, and that of services increased by 0.3 percent.
In 2020, China’s national consumer price rose by 2.5 percent over the previous year.
In December, prices of food, tobacco and liquor went up by 1.4 percent year-on-year, affecting a nearly 0.44 percentage point increase in the CPI.
Of which, the prices of fresh vegetables rose by 6.5 percent, affecting the CPI up by 0.17 percentage point in total; that of fresh fruits rose by 6.5 percent, affecting the CPI up by 0.11 percentage point in total; that of aquatic products increased by 1.7 percent, affecting the CPI up by 0.03 percentage point in total; that of livestock meat went up by 0.6 percent, affecting nearly 0.04 percentage point increase in the CPI (the price of pork was down by 1.3 percent, affecting nearly 0.06 percentage point decrease in the CPI); that of eggs went down by 10.8 percent, affecting the CPI down by about 0.07 percentage point.
China Consumer Price in 2020
In 2020, the consumer price went up by 2.5% over last year, lower than the 2.9% growth in 2019 and also lower than the expected annual target of around 3.5%.
Specifically, the price went up by 2.3% in urban areas and 3.0% in rural areas.
Grouped by commodity categories:
- prices for food, tobacco and alcohol went up by 8.3 percent;
- clothing down by 0.2 percent; housing down by 0.4 percent;
- articles and services for daily use remained the same;
- transportation and communication down by 3.5 percent;
- education, culture and recreation up by 1.3 percent;
- medical services and health care up by 1.8 percent; and
- other articles and services up by 4.3%.
- prices for grain went up by 1.2%, fresh vegetables up by 7.1% and pork up by 49.7%.
Core CPI excluding the prices of food and energy went up by 0.8%.