China - Consumer Price Index (CPI)





China: Consumer Price Index (CPI)

Mnemonic CPI.ICHN
Unit Index CPPY=100, NSA
Adjustments Not Seasonally Adjusted
Monthly 0.76 %
Data Oct 2019 103.8
Sep 2019 103.02

Series Information

Source National Bureau of Statistics of the People's Republic of China
Release Consumer Price Index
Frequency Monthly
Start Date 1/31/2016
End Date 10/31/2019

China: Price

Reference Last Previous Units Frequency
Consumer Price Index (CPI) Oct 2019 103.8 103.02 Index CPPY=100, NSA Monthly
Producer Price Index (PPI) Oct 2019 98.4 98.8 Index, Same Month of Prior Year=100, NSA Monthly

Release Information

The consumer price index (CPI) measures changes in the prices of goods and services consumed by households. Such changes affect the real purchasing power of consumers’ incomes and their welfare. In practice, the official CPI of China measures the change in the level of prices for a specified basket of goods and services normally purchased by urban and rural residents.

Active:

  • Measurements:
    • Fixed-base index relative to 2015 (Index 2015=100)
    • Moving-base index ("same month of prior year=100")
    • Moving-base index relative to corresponding period of previous year (Index CPPY=100)
    • Moving-base index (prev. month=100)
    • Year-over-year percent change (% Y/Y)
  • Adjustment: Not seasonally adjusted (NSA)
  • Native frequency: Monthly
  • Start date: As early as 1987m1
  • Geo coverage:
    • Country
    • 31 provinces

Predecessors:

  • 2010=100, 1986 to 2015

We compute a seasonally adjusted version of the general index.

The CPI survey covers around 500 areas throughout the country, including around 200 counties and around 300 cities. The current CPI is a chained Laspeyres price index, which is compiled and disseminated since 2001. Prior to 2001, the index was compiled and disseminated on a month to month and year to year basis using current year weights for most items.

262 item groups have been selected as representative items of consumer purchases from the household surveys. Each representative item consists of around 2-10 varieties, for certain special items have 15-25 varieties each.

Prices for most items are collected at least two times during the month in shops and markets in selected areas. Prices of perishable items – fruits, vegetables, eggs, poultry, meat and fish – are collected six times every month and prices of industrial products are collected two times a month. Where prices are still supervised by the government, such as rent, electricity, public transportation, and drinking water the information on such prices is collected once a month.

Items that are no longer available are replaced by similar items.

Subnational data is available for total CPI previous month=100. Geo coverage includes all 31 provinces in China.

The source writes:

Beginning in January 2016, 2015 was used as a base period in the new round of rotation, and the base periods in the previous three rounds were 2000, 2005 and 2010. Compared with the base period in the last round, the survey directory and specifications of the new base period were closer to international standards, and a number of new products and services were included, which could further reflect changes in consumption and economic structure. At the same time, the weight numbers of CPI composition were adjusted accordingly, according to the latest results of the survey on residents income and expenditure. The survey directory of the new base period was revised following the Classification of Individual Consumption According to Purpose (COICOP) developed by the United Nations and the Classification of Household Consumption Expenditure (2013) enacted by the NBS. According to estimation, the current rotation of the base period had almost no influence on the month-on-month data of CPI.

Data are not revised. Note from source "Article 6 forbid revising the data provided by the NBS and prohibit officials from influencing, altering or tampering with the data. The NBS is held solely responsible for the authenticity of the data produced and disseminated by it."

For the percent-change figures (CP%{TTY, CLTY,FPBY,HOSY}UM.ICHN), the most recent period is reported by the source, but its history is Moody's Analytics calculated.

For the indexed figures (CPI{TTY, CLTY,FPBY,HOSY}UM.ICHN), the most recent period is Moody's Analytics Calculated, and the history is reported by the source.

At the source:

At IMF (SDDS):