Beijing (JLC), January 15, 2026—China's consumer price index (CPI) rose by 0.2% month on month in December, against a dip of 0.1% in November, data from the National Bureau of Statistics (NBS) indicated.
CPI, a main gauge of inflation, went up as measures to boost domestic demand took effect and household consumption increased ahead of the New Year’s Day holiday (January 1-3).
On a year-on-year comparison, CPI rallied by 0.8% in December, the highest level since March 2023. The rebound was mainly driven by a large rise in food prices. Core CPI, which excludes food and energy, climbed by 1.2% from December 2024.
China's Producer Price Index (PPI), which measures factory-gate goods prices, edged up by 0.2% month-on-month in December, the third straight monthly gain. The increase can be attributed to actions to curb capacity expansion and regulate market competition and higher global non-ferrous metals prices.
During the same period, PPI fell by 1.9% year-on-year, with the decline narrowing by 0.3 percentage points compared with November. Reduction slowed down due to governmental efforts to build a unified national market, the development of new quality productive forces, and the unleashing of consumption potentials.
