China’s consumer price inflation cooled markedly at the start of 2026, with the Consumer Price Index (CPI) rising 0.2% year-over-year in January, down from a 0.8% increase in December 2025. The latest figure, based on year-over-year comparison, was updated on 11 February 2026.
The December reading reflected prices in that month versus December a year earlier, while the January 2026 figure compares price levels to January a year ago. The sharp moderation in the annual inflation rate suggests a significant loss of price momentum between late 2025 and the beginning of 2026, indicating a softer inflation backdrop for the Chinese economy as the new year begins.
