January CPI year-on-year growth slowed to 0.2%, PPI year-on-year decline narrowed

WealthCoffee · 2026-03-03T11:41:21+00:00

In January, the year-on-year increase in the Consumer Price Index (CPI) narrowed to 0.2%, and the decline in the Producer Price Index (PPI) for industrial producers slowed to 1.4%, indicating market changes under the influence of international commodity prices and policies.

WealthCoffee

2026-03-03 11:41:21

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[Caixin] The delayed Lunar New Year, falling energy prices, and other factors led to a narrowing of the year-on-year and month-on-month growth rates of the Consumer Price Index (CPI) in January; driven by the continued implementation of the “anti-involution” policy, increased demand in some industries, and the transmission of international commodity prices, the Producer Price Index (PPI) saw a wider month-on-month increase, with the year-on-year decline continuing to improve marginally.

According to data released by the National Bureau of Statistics on February 11, the CPI in January rose by 0.2% year-on-year, 0.6 percentage points lower than December 2024; the core CPI, excluding food and energy prices, grew by 0.8% year-on-year, 0.4 percentage points slower than the previous month; the PPI’s year-on-year decline narrowed by 0.5 percentage points to 1.4%, the highest since August 2024.

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