CPI 2018

China’s consumer price index, a main gauge of inflation, was up 2.1 percent year-on-year in 2018. Prices in urban and rural were both up by 2.1 percent, according to NBS data.

In the first three quarters of 2018, China’s CPI continued its steady trend in recent years. It grew 2.1 percent year-on-year, higher than 1.5 percent from the same period of 2017. Still, the CPI growth rate was kept below the reasonable level of 3-percent in all months.

In December 2018, the CPI was up by 1.9 percent year-on-year. Food prices rose 2.5 percent year-on-year, contributing 0.48 percentage points to the overall CPI growth; prices for medical products and services rose 2.5 percent year-on-year; educational, cultural and entertainment prices rose 2.3 percent while housing-related prices rose 2.2 percent, official data showed.

Oil prices eased in December. Prices for gasoline and diesel dipped 0.5 percent and 0.3 percent year-on-year, respectively, compared with the 12.8-percent and 14.2-percent gains in November 2018.

Note:

The Consumer Price Index (CPI) is an index measuring changes over time in the price level of consumer goods and services purchased by residents. It serves as a  comprehensive reflection of changes in price levels.

CPI covers the prices of goods and services in eight categories and 262 basic divisions which cover the living needs of urban and rural residents, including food, tobacco and liquor; clothing; housing; household goods and services; transportation and communication; education, culture and recreation; healthcare; and other goods and services.