In December 2019, China’s Consumer Price Index (CPI) went up by 4.5% year-on-year, with an increase of 4.2% in urban areas and 5.3% in rural areas. The food prices went up by 17.4%, and the non-food prices increased by 1.3%.
The prices of consumer goods went up by 6.4%, and that of services grew by 1.2% according to data from National Bureau of Statistics.
In December 2019, China’s consumer prices were flat month-on-month. The prices in urban areas were flat and rural prices were down by 0.1%; the food prices decreased by 0.4% while that of non-food goods increased by 0.1%; and that of consumer goods and services were both flat.
Consumer Price Year-on-Year Growth in Dec 2019
Prices of food, tobacco, and liquor went up by 12.9% year-on-year in December, affecting nearly 3.82 percentage points increase in the CPI. Of which, livestock meat price went up by 66.4%, leading to 2.94 percentage points increase in the CPI; the price of pork was up by 97.0%, affecting nearly 2.34 percentage points increase in the CPI.
Fresh vegetable prices jumped by 10.8%, leading to 0.26 percentage point increase in CPI. The price of eggs rose by 6.2 percent, affecting the CPI up by about 0.04 percentage point. The price of aquatic products rose by 1.3%, leading to 0.02 percentage point increase in the CPI.
Grain prices rose by 0.6 percent, leading to 0.01 percentage point increase in CPI; Fresh fruit prices decreased by 8.0 percent, CPI down 0.15 percentage point.
Health care, education, and culture and entertainment rose by 4.4%, 2.1%, and 1.8% respectively; and, the prices of clothing, housing, and daily goods and services rose by 0.8%, 0.5%, and 0.4% respectively. Transportation and communications dropped by 0.7%.