Between 1986 and 2022, China’s inflation rate averaged 4.92 percent, with a high of 28.40 percent in February 1989 and a low of -2.20 percent in April 1999.
What is the inflation rate in China in 2020?
Inflation rate of average consumer prices in China China’s inflation rate was 2.4 percent in 2020. Though China’s inflation rate has changed significantly in recent years, it has tended to rise from 2001 to 2020, reaching 2.4 percent in 2020.
Is China’s inflation rate high?
Analysts believe that, even as other central banks around the world tighten policy, the People’s Bank of China (PBOC) may be able to loosen policy to help the slowing economy.
“Concerns about inflation are unlikely to deter the (People’s Bank of China) from taking additional policy easing measures,” said Sheana Yue, China Economist at Capital Economics.
“Lower inflation signals poor domestic demand,” said Zhiwei Zhang, Pinpoint Asset Management’s Chief Economist. “Macro policies have shifted in favor of the economy, but it will take time for the effects to be felt.”
Due to rising global energy prices, the Chinese economy, notably its massive manufacturing sector, has battled with high production costs.
Coal mining and washing prices increased 51.3 percent year over year in January, while oil and gas extraction prices increased 38.2 percent.
China’s state planner warned earlier this month that global inflation is likely to continue for some time, but that the country’s ability to deal with unusual price variations is strong.
Producer price inflation is expected to fall further this year, while consumer price inflation is expected to go up, according to the National Development and Reform Commission (NDRC).
To slash borrowing costs, the PBOC has cut interest rates and injected cash into the banking system, with more easing measures planned.
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Yue of Capital Economics anticipates more policy rate reduction before the end of the year.
In contrast to Western central banks, which have either begun hiking interest rates or are generally expected to do so this year, China has the ability to soften.
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At the same time, regulators are leery about relaxing credit conditions too quickly, which might re-ignite speculative property price rises.
The property market has slowed as a result of developer borrowing restrictions and apprehensive buyers.
“Policymakers don’t want to erase all the gains they made in the property market last year by cutting interest rates,” said Nie Wen, chief economist at Hwabao Trust.
“Now that they’ve finally managed to rein in rapidly growing (property) prices, any interest rate decreases will be structural, aimed at boosting the actual economy rather than further fuelling the property market.”
Is China’s inflation rate low?
- China’s factory-gate inflation slowed to its lowest level in six months in January, according to official statistics released on Wednesday, as the government took steps to rein in rising raw material costs.
- Globally, inflation is expected to continue for some time, but China’s ability to deal with unusual price changes has improved, according to the country’s official planner.
- Analysts anticipate that lower inflation will allow the central bank to loosen policies to help the economy recover.
What caused the inflation in China?
According to Xu Hongcai, deputy director of the China Association of Policy Science’s economic policy committee, the source of the higher CPI was pricing pressure transmitted from upstream producers as the PPI touched a 26-year high, albeit rising vegetable prices also contributed to consumer inflation.
What is the current US inflation rate?
The US Inflation Rate is the percentage increase in the price of a selected basket of goods and services purchased in the US over a year. The US Federal Reserve uses inflation as one of the indicators to assess the economy’s health. The Federal Reserve has set a target of 2% inflation for the US economy since 2012, and if inflation does not fall within that range, it may adjust monetary policy. During the recession of the early 1980s, inflation was particularly noticeable. Inflation rates reached 14.93 percent, prompting Paul Volcker’s Federal Reserve to adopt drastic measures.
The current rate of inflation in the United States is 7.87 percent, up from 7.48 percent last month and 1.68 percent a year ago.
This is greater than the 3.24 percent long-term average.
What is the literacy rate in China?
The percentage of adults aged 15 and above who can read and write a brief straightforward statement about their daily lives is known as the adult literacy rate. The literacy rate in China in 2018 was 96.84 percent, up 1.72 percent from 2010.
How much is inflation in Germany?
WIESBADEN, Germany In March 2022, Germany’s inflation rate is anticipated to be +7.3 percent. The change in the consumer price index (CPI) from the same month a year before is used to calculate the inflation rate.
What is the unemployment rate in China?
Unemployment refers to the percentage of the labor force that is unemployed yet looking for job. The unemployment rate in China in 2020 was 5.00 percent, up 0.4 percent from 2019. The unemployment rate in China in 2019 was 4.60 percent, up 0.3 percent from 2018.