FX.co ★ China Food Prices Fall for First Time in 3 Months

China’s food prices fell 0.7% year on year in January 2026, reversing a 1.1% increase in December and marking the first decline since October. Ample supply and subdued demand weighed on prices ahead of the Lunar New Year holidays in February. Egg prices remained sharply lower (-9.2% vs -12.7%), and declines continued in cooking oils (-0.7% vs -1.0%) and dairy products (-0.8% vs -1.8%), underscoring strong production alongside weak consumption. Pork prices, a key household staple, also stayed deeply negative (-13.7% vs -14.6%) amid persistent oversupply. At the same time, price growth slowed notably for fresh vegetables (6.9% vs 18.2%) and fresh fruit (3.2% vs 4.4%), as earlier weather-related pressures eased and supplies improved ahead of the holiday period.