ECONOMY

China Consumer Inflation Seen Cooling

Published: Feb. 10, 2026 5:59 p.m. GMT+8

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Residents shop in Huai’an, Jiangsu province, on Jan. 14, 2026. Photo: VCG

China’s consumer price inflation likely slowed in January due to the later timing of the Lunar New Year, while factory-gate deflation might show further signs of easing amid rising global commodity prices, a Caixin survey found.

The survey of 12 domestic and international institutions puts the average forecast for the year-on-year rise in the consumer price index (CPI) at 0.5%, down 0.3 percentage points from December’s actual reading.

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China's January consumer price index (CPI) is forecast to rise 0.5% year-on-year, down 0.3 points from December, mainly due to the later Lunar New Year.
Producer price index (PPI) deflation is expected to narrow to -1.5% year-on-year, a 0.4-point improvement from December.
Rising global commodity prices, including metals and oil, contributed to the reduced PPI deflation.

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