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China’s CPI Falls 0.4% in August 2025 as Food Prices Decline

Official data shows a year-on-year drop in consumer prices, led by a sharp fall in food costs, while non-food prices posted modest gains.

Summary

China’s national consumer price index fell 0.4% year-on-year in August 2025, with urban prices down 0.3% and rural prices down 0.6%. Food prices dropped 4.3%, offsetting a 0.5% rise in non-food prices. From January to August, average CPI decreased 0.1% year-on-year. On a month-on-month basis, August CPI was unchanged, with slight variations across food, non-food, goods, and services.

Terms & Concepts
  • Consumer Price Index (CPI): An economic indicator that measures the average change in prices paid by consumers for goods and services over time.
  • Non-food Prices: A component of the CPI that tracks price changes in categories excluding food, such as housing, healthcare, and transportation.
  • Year-on-Year (YoY): A comparison of economic data for one period with the same period in the previous year, often used to identify trends.