Monthly inflation · China
China Inflation Rate MoM
The China Inflation Rate MoM is the change in consumer prices in China from the previous month (or quarter).
- Importance
- Medium
- Released
- Monthly
- Next release
- Currency
- CNH · Chinese yuan (renminbi)
- Central bank
- The People's Bank of China
Latest figures
The latest release, for OCT, was published on 9 November 2026 and came in at 0.0%. That is in line with the consensus of 0%. It is down from 0.2% the time before.
A result in line with the consensus usually causes little reaction: it was already priced in.
Over the last 12 releases it ranged from -0.7% to 1.0%, averaging 0.1%. It has been falling for three releases in a row.
| Released | For | Actual | Consensus | Previous |
|---|---|---|---|---|
| 9 Nov 2026 | OCT | 0.0% | 0% | 0.2% |
| 14 Oct 2026 | SEP | 0.2% | 0.3% | 0.4% |
| 9 Sep 2026 | AUG | 0.4% | 0.3% | -0.1% |
| 9 Aug 2026 | JUL | -0.1% | 0.2% | -0.3% |
| 9 Jul 2026 | JUN | -0.3% | -0.2% | -0.1% |
| 10 Jun 2026 | MAY | -0.1% | -0.2% | 0.3% |
| 11 May 2026 | APR | 0.3% | -0.1% | -0.7% |
| 10 Apr 2026 | MAR | -0.7% | -0.2% | 1% |
| 9 Mar 2026 | FEB | 1% | – | 0.2% |
| 11 Feb 2026 | JAN | 0.2% | 0.3% | 0.2% |
| 9 Jan 2026 | DEC | 0.2% | – | -0.1% |
| 10 Dec 2025 | NOV | -0.1% | 0.2% | 0.2% |
Why it matters
The monthly change is the freshest reading of price pressure: the yearly rate is the sum of the last twelve monthly changes, so today's monthly figure tells you where the yearly rate is heading.
How it is calculated
the National Bureau of Statistics (NBS) prices a fixed basket of goods and services across the country and compares the index with the previous period. Seasonal patterns (sales, holidays) make raw monthly figures jumpy; some countries also publish seasonally adjusted numbers.
Monthly inflation = index(this month) ÷ index(last month) − 1
Annualised ≈ (1 + monthly)¹² − 1What changes mean
- Compare with the same month in earlier years: January and September often have seasonal jumps.
- 0.2% a month is about the 2% a year most central banks aim for.
Higher than expected: A higher figure than expected makes the People's Bank of China more likely to keep rates high or raise them: it tends to support the Chinese yuan (renminbi) and push bond yields up, and is often a weight on stocks.
Lower than expected: A lower figure than expected gives the People's Bank of China room to cut or hold rates lower: the Chinese yuan (renminbi) tends to soften and bond yields to fall.
A short history
Monthly price indexes date from the early 20th century; many countries began publishing them during or after the First World War to adjust wages to the cost of living.
Questions
What is the China Inflation Rate MoM?
The China Inflation Rate MoM is the change in consumer prices in China from the previous month (or quarter).
What was the latest China Inflation Rate MoM?
0.0% for OCT, published on 9 November 2026 (consensus 0%, previous 0.2%).
When is the next China Inflation Rate MoM?
On Wednesday 9 December 2026 at 01:30 UTC.
Educational content only, not investment advice. Figures are the published results as recorded by our calendar; market reactions described are typical, not guaranteed.