CPI 2019

China's consumer price index, a main gauge of inflation, rose 2.9 percent year-on-year in 2019, within government target of 3-percent.

The growth picked up from 2.8-percent in the first 11 months, and was above the 2.1-percent annual increase in 2018, according to NBS data.

Monthly Changes of Consumer Prices in 2019

In December, the CPI climbed 4.5 percent year-on-year, unchanged from that in November. The hike was mainly driven by food prices, which soared 17.4 percent year-on-year in November, contributing 3.43 percentage points to the increase in December. Pork prices surged 97-percent year-on-year, slowing from the 110.2-percent growth seen in November. Prices of other kinds of protein including beef, mutton and poultry saw slower growth. Non-food prices gained 1.3-percent in December, faster than the 1-percent growth in November.

The CPI in urban and rural areas posted a year-on-year growth of 4.2 percent and 5.3 percent, respectively. The core CPI, which excludes food and energy prices, ticked up 1.4 percent year-on-year in December, flat with that in November.

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.