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      China's CPI and PPI both drop YoY in January 2024

      6:17pm 18 Feb, 2024 Ray Chen

      Guangzhou (JLC), February 18, 2024 – China's consumer price index (CPI), a main gauge of inflation, dropped 0.8% year on year in January 2024, data from the National Bureau of Statistics (NBS) showed.

       

      The steep year-on-year drop in January was mainly due to a high base last year, the NBS said. The Spring Festival fell in January last year, compared to February this year. The year-on-year decline was also led by food prices, which fell 5.9% YoY in January 2024, the NBS said.

       

      On a month-on-month comparison, however, the CPI gained 0.3% in January.


      CPI and PPI 

       

      Meanwhile, China's producer price index (PPI), which measures factory-gate goods prices, fell 2.5% year on year in January, the NBS data indicated.

       

      On a month-on-month comparison, the PPI dropped 0.2% in January, the NBS data indicated.


      CPI and PPI


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