China CPI up 4.3% in March 2020, pork up 116%
China’s Consumer Price Index (CPI) went up by 4.3% year-on-year in March 2020, with an increase of 4.0% in urban areas and 5.3% in rural areas. The food prices went up by 18.3%, and the non-food prices increased by 0.7%. The prices of consumer goods went up by 6.2%, and prices of services grew by […]
China’s Consumer Price Index (CPI) went up by 4.3% year-on-year in March 2020, with an increase of 4.0% in urban areas and 5.3% in rural areas.
The food prices went up by 18.3%, and the non-food prices increased by 0.7%. The prices of consumer goods went up by 6.2%, and prices of services grew by 1.1%.
From January to March 2020, on average, the overall consumer prices were up by 4.9% from the same period of the previous year.
In March, China’s consumer prices dropped by 1.2% month-on-month. Among them, the prices in urban and rural were down by 1.2 and 1.3% respectively; the prices of foodstuff decreased by 3.8%, that of non-foodstuff decreased by 0.4%; and that of consumer goods went down by 1.7%, and hat of services fell 0.3%.
In March, prices of Food, Tobacco, and Liquor went up by 13.6% year-on-year, affecting nearly 4.10 percentage points increase in the CPI.
- Livestock meat price up by 78.0% affecting nearly 3.44 percentage points increase in the CPI (the price of pork was up by 116.4% affecting nearly 2.79 percentage points increase in the CPI);
- The price of aquatic products rose by 2.8% affecting nearly 0.05 percentage point increase in the CPI
- The price of eggs went up by 1.9% affecting the CPI up by about 0.01 percentage point
- Fresh fruit and vegetable prices dropped by 6.1 and 0.1% affecting the CPI down by 0.12 percentage point in total.
China CPI in Q1 2020
In Q1 2020, the price went up by 4.6% in urban areas and up by 5.9% in rural areas.
Grouped by commodity categories:
- prices for food, tobacco and alcohol went up by 14.9% year on year;
- clothing up by 0.2 percent;
- housing up by 0.2 percent;
- articles and services for daily use up by 0.2 percent;
- transportation and communication down by 1.5 percent;
- education, culture, and recreation up by 1.9%;
- medical services and health care up by 2.2 percent;
- other articles and services up by 4.9 percent.
In terms of food, tobacco and alcohol prices:
- prices for grain went up by 0.6%;
- fresh vegetables up by 9.0%, specifically, their prices went up by 10.9% in February and down by 0.1% in March;
- pork up by 122.5%
Core CPI excluding the price of food and energy went up by 1.3 percent.
Coronavirus outbreak’s impact on China’s consumption