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The graph shows the Consumer Price Index (CPI) in China as of October 2024, by sector and area. That month, the CPI for transportation and communication in urban areas resided at 95.1 index points.

Measuring inflation

The Consumer Price Index (CPI) is an economic indicator that measures changes in the price level of a representative basket of consumer goods and services. It is calculated by taking price changes for each item in the market basket and averaging them. Goods and services are weighted according to their significance. The CPI can be used to assess the price changes related to the cost of living. It is also useful for identifying periods of inflation and deflation. A significant rise in CPI during a short period of time denotes inflation and a significant drop during a short period of time suggests deflation.

Development of inflation in China

Annual projections of China’s inflation rate forecast by the IMF estimate a relatively low increase in prices in the coming years. The implications of low inflation are two-fold for a national economy. On the one hand, price levels remain largely stable which may lead to equal or increased spending levels by domestic consumers. On the other hand, low inflation signifies an expansion slowdown of the economy, as is reflected by China’s gross domestic product growth. In recent years, inflation rates in rural areas have on average been slightly higher than in the cities. This reflects a shift of economic growth from the largest cities and coastal regions to the inner provinces and the countryside. Higher price levels in rural areas in turn relate to higher inflation rates of food products.

Consumer Price Index (CPI) in China as of October 2024, by sector and area

Sector	Total	Urban	Rural
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-	-	-	-
-	-	-	-
-	-	-	-
-	-	-	-
-	-	-	-
-	-	-	-
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-	-	-	-

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Release date

November 2024

More information

Region

China

Survey time period

as of October 2024

Special properties

same month last year = 100

Supplementary notes

According to the National Bureau of Statistics, the "Consumer Price Index (CPI) is an index measuring changes over time in the price level of consumer goods and services purchased by residents, which comprehensively reflects the changes of price level. Consumer Price Index (CPI) covers the prices of goods and services of eight categories and 262 basic divisions which cover the living consumption of urban and rural residents, including food; tobacco, liquor and articles; clothing; household facilities, articles and maintenance services; health care and personal articles; transportation and communication; recreation, education, culture articles and services and residence. Data are collected from 63,000 prices collection units in 500 cities and counties of the 31 provinces (autonomous regions and municipalities), which cover grocery stores, department stores, supermarkets, convenience stores, professional markets, franchise houses, shopping centers, open fairs and service consuming units etc."

The source does not provide an exact publication date. The date given here is the date of data access.

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