--- source: National Bureau of Statistics of China url: https://www.stats.gov.cn/english/PressRelease/202603/t20260310_1962748.html alternate_urls: - https://www.stats.gov.cn/english/PressRelease/202603/t20260310_1962747.html document_type: html date_retrieved: 2026-03-16 period: February 2026 parent_publication: NBS Monthly Price Indices Release Package (CPI and PPI) indicators_covered: [Inflation Rate YoY, Inflation Rate MoM, Producer Prices Change] coverage_note: "English site publishes CPI and PPI as two parallel releases on same publication date; combined here to cover full event payload." --- # NBS Price Indices, February 2026 (CPI + PPI) ## Consumer Price Index in February 2026 Publication time: 2026/03/10 09:30 In February 2026, China's Consumer Price Index (CPI) increased by 1.3% year on year. Specifically, the price index in urban areas increased by 1.4% while that in rural areas increased by 0.9%; the price index for food increased by 1.7% while that for non-food increased by 1.3%; the price index for consumer goods increased by 1.1% while that for services increased by 1.6%. From January to February, on average, China's CPI increased by 0.8% year on year.   In February, China's CPI increased by 1.0% month on month. Specifically, the price index in urban areas increased by 1.0% while that in rural areas increased by 0.7%; the price index for food increased by 1.9% while that for non-food increased by 0.8%; the price index for consumer goods increased by 0.8% while that for services increased by 1.1%.     I. Year-on-Year Changes in Price Indexes for Various Goods and Services   In February, the price index for food, tobacco, liquor and dining out increased by 1.4% year on year, pushing the CPI up by about 0.41 percentage points. Among food, the price index for fresh vegetables increased by 10.9%, pushing the CPI up by about 0.19 percentage points; that for aquatic products increased by 6.1%, pushing the CPI up by about 0.11 percentage points; that for fresh fruits increased by 5.9%, pushing the CPI up by about 0.12 percentage points; that for eggs decreased by 2.9%, pushing the CPI down by about 0.02 percentage points; that for meat decreased by 2.7%, pushing the CPI down by about 0.11 percentage points, of which the price index for pork decreased by 8.6%, pushing the CPI down by about 0.17 percentage points.   Among the price indexes for the other seven major categories, five increased, and two decreased year on year. Specifically, the price indexes for miscellaneous goods and services, household facilities, articles and services and education, culture and recreation increased by 15.4%, 2.8% and 2.0%, respectively; the price indexes for clothing, and health care and medical services both increased by 1.9%; and those for transportation and telecommunication, and residence decreased by 0.7% and 0.2%, respectively.     II. Month-on-Month Changes in Price Indexes for Various Goods and Services   In February, the price index for food, tobacco, liquor and dining out increased by 1.4% month on month, pushing the CPI up by about 0.40 percentage points. Among food, the price index for aquatic products increased by 6.9%, pushing the CPI up by about 0.13 percentage points; that for fresh fruits increased by 4.0%, pushing the CPI up by about 0.08 percentage points; that for meat increased by 2.6%, pushing the CPI up by about 0.11 percentage points, of which the price index for pork increased by 4.0%, pushing the CPI up by about 0.07 percentage points; that for eggs increased by 1.3%, pushing the CPI up by about 0.01 percentage points.   Among the price indexes for the other seven major categories, five increased, one remained flat, and one decreased month on month. Specifically, the price indexes for miscellaneous goods and services, transportation and telecommunication and education, culture and recreation increased by 2.3%, 2.2% and 1.6%, respectively; the price indexes for household facilities, articles and services, and health care and medical services increased by 0.2% and 0.1%, respectively; that for residence remained flat; and that for clothing decreased by 0.1%.     Consumer Price Indexes in February 2026   |   | Growth Rate M/M (%) | Growth Rate Y/Y (%) | Jan-Feb Growth Rate Y/Y (%) | | --- | --- | --- | --- | | Consumer Price Index | 1.0 | 1.3 | 0.8 | | Of which: Urban | 1.0 | 1.4 | 0.8 | | Rural | 0.7 | 0.9 | 0.5 | | Of which: Food | 1.9 | 1.7 | 0.5 | | Non-food | 0.8 | 1.3 | 0.8 | | Of which: Consumer goods | 0.8 | 1.1 | 0.7 | | Services | 1.1 | 1.6 | 0.8 | | Of which: Excluding food and energy | 0.7 | 1.8 | 1.3 | | By category |   |   |   | | I. Food, tobacco, liquor and dining out | 1.4 | 1.4 | 0.6 | | Grain | -0.2 | -0.4 | -0.2 | | Edible oil and fats | -0.4 | -1.1 | -0.9 | | Fresh vegetables | -0.1 | 10.9 | 8.8 | | Meat of livestock | 2.6 | -2.7 | -4.4 | | Of which: Pork | 4.0 | -8.6 | -11.2 | | Beef | 1.8 | 9.6 | 8.4 | | Mutton | 2.2 | 6.6 | 5.6 | | Aquatic products | 6.9 | 6.1 | 3.4 | | Eggs | 1.3 | -2.9 | -6.2 | | Milk and other dairy products | -0.4 | -1.1 | -1.0 | | Fresh fruits | 4.0 | 5.9 | 4.5 | | Cigarettes | -0.1 | -0.3 | -0.3 | | Liquor | -1.1 | -2.6 | -2.2 | | II. Clothing | -0.1 | 1.9 | 1.9 | | Garments | -0.2 | 2.0 | 2.0 | | Footwear | 0.1 | 1.4 | 1.4 | | III. Residence | 0.0 | -0.2 | -0.1 | | Rent of rental housing | -0.1 | -0.5 | -0.4 | | Water, electricity and fuels | 0.0 | 0.4 | 0.4 | | IV. Household facilities, articles and services | 0.2 | 2.8 | 2.7 | | Home appliances | -1.1 | 5.3 | 6.0 | | Household services | 1.7 | 3.8 | 0.7 | | V. Transportation and telecommunication | 2.2 | -0.7 | -2.1 | | Automobiles | 0.1 | -1.2 | -1.3 | | Energy for transport facilities | 2.8 | -9.0 | -9.7 | | Use and maintenance of transport facilities | 3.6 | 3.7 | 1.5 | | Communication facilities | 0.1 | 1.9 | 1.6 | | Telecommunication services | 0.0 | 0.0 | 0.0 | | Postal services | 0.2 | 0.3 | -0.7 | | VI. Education, culture and recreation | 1.6 | 2.0 | 1.0 | | Education services | 0.0 | 0.5 | 0.5 | | Travel agencies and other touring services | 14.1 | 11.7 | 2.3 | | VII. Health care and medical services | 0.1 | 1.9 | 1.8 | | Traditional Chinese medicines | -0.1 | -1.4 | -1.4 | | Western medicines | -0.1 | -1.0 | -1.0 | | Medical services | 0.1 | 2.8 | 2.7 | | VIII. Miscellaneous goods and services | 2.3 | 15.4 | 14.3 |   Growth Rate M/M (%) Growth Rate Y/Y (%) Jan-Feb Growth Rate Y/Y (%) Consumer Price Index 1.0 1.3 0.8 Of which: Urban 1.0 1.4 0.8 Rural 0.7 0.9 0.5 Of which: Food 1.9 1.7 0.5 Non-food 0.8 1.3 0.8 Of which: Consumer goods 0.8 1.1 0.7 Services 1.1 1.6 0.8 Of which: Excluding food and energy 0.7 1.8 1.3 By category       I. Food, tobacco, liquor and dining out 1.4 1.4 0.6 Grain -0.2 -0.4 -0.2 Edible oil and fats -0.4 -1.1 -0.9 Fresh vegetables -0.1 10.9 8.8 Meat of livestock 2.6 -2.7 -4.4 Of which: Pork 4.0 -8.6 -11.2 Beef 1.8 9.6 8.4 Mutton 2.2 6.6 5.6 Aquatic products 6.9 6.1 3.4 Eggs 1.3 -2.9 -6.2 Milk and other dairy products -0.4 -1.1 -1.0 Fresh fruits 4.0 5.9 4.5 Cigarettes -0.1 -0.3 -0.3 Liquor -1.1 -2.6 -2.2 II. Clothing -0.1 1.9 1.9 Garments -0.2 2.0 2.0 Footwear 0.1 1.4 1.4 III. Residence 0.0 -0.2 -0.1 Rent of rental housing -0.1 -0.5 -0.4 Water, electricity and fuels 0.0 0.4 0.4 IV. Household facilities, articles and services 0.2 2.8 2.7 Home appliances -1.1 5.3 6.0 Household services 1.7 3.8 0.7 V. Transportation and telecommunication 2.2 -0.7 -2.1 Automobiles 0.1 -1.2 -1.3 Energy for transport facilities 2.8 -9.0 -9.7 Use and maintenance of transport facilities 3.6 3.7 1.5 Communication facilities 0.1 1.9 1.6 Telecommunication services 0.0 0.0 0.0 Postal services 0.2 0.3 -0.7 VI. Education, culture and recreation 1.6 2.0 1.0 Education services 0.0 0.5 0.5 Travel agencies and other touring services 14.1 11.7 2.3 VII. Health care and medical services 0.1 1.9 1.8 Traditional Chinese medicines -0.1 -1.4 -1.4 Western medicines -0.1 -1.0 -1.0 Medical services 0.1 2.8 2.7 VIII. Miscellaneous goods and services 2.3 15.4 14.3   Annotations:   1. Index Interpretation   The Consumer Price Index (CPI) is an indicator that measures relative changes in the price level of consumer goods and services over time. It comprehensively reflects changes in prices of consumer goods and services purchased by residents.   2. Statistical Coverage   The CPI statistical survey covers the prices of eight major categories of goods and services purchased by national urban and rural residents, including food, tobacco, liquor and dining out, clothing, residence, household facilities, articles and services, transportation and telecommunication, education, culture and recreation, health care and medical services, and miscellaneous goods and services, as well as 268 basic categories.   3. Survey Method   Survey sites are selected using a sampling method. In accordance with the principle of "fixed person, fixed site, and fixed time", original prices are collected either through on-site visits to the survey sites or from online sources. The data comes from nearly 120,000 survey sites in about 500 cities and counties in 31 provinces (autonomous regions and municipalities), covering shopping malls (stores), supermarkets, farmers' (fresh produce) markets, service outlets, and Internet e-commerce.   4. Data Description   Due to rounding, the aggregate data may be equal to the high or low value of the classified figures.   5. Base Period Rotation   According to the statistical system arrangement, China's CPI undergoes a base period rotation every five years. Starting from January 2026, the CPI will be compiled and published with 2025 as the base period. Compared with the previous base period, the survey categories, representative specification items, surveyed sites, and the category weights have been adjusted to reflect the latest changes in the consumption structure. According to calculations, the impact of the base period rotation on the monthly year-on-year CPI is approximately 0.06 percentage points on average. ## Industrial Producer Price Indexes in February 2026 Publication time: 2026/03/10 09:30 In February 2026, China's producer price index for industrial products (PPI) decreased by 0.9% year on year, with the decline narrowing by 0.5 percentage points from the previous month; it increased by 0.4% month on month, with the increase flat with the previous month. The purchasing price index for industrial producers decreased by 0.7% year on year, with the decline narrowing by 0.7 percentage points from the previous month; it increased by 0.7% month on month, with the increase 0.2 percentage points higher than the previous month. From January to February, on average, the producer price index for industrial products decreased by 1.2% year on year, and the purchasing price index for industrial producers decreased by 1.1% year on year.       I. Year-on-Year Changes in Industrial Producer Price Indexes In February, among producer price indexes for industrial products, the price index for means of production decreased by 0.7%, pushing the overall producer price index for industrial products down by about 0.55 percentage points. Specifically, the price index for mining and quarrying decreased by 5.3%, that for raw materials dropped by 1.9%, and that for the processing industry increased by 0.3%. The price index for consumer goods decreased by 1.6%, pushing the overall producer price index for industrial products down by about 0.35 percentage points. Specifically, the price index for food went down by 1.8%, that for clothing decreased by 1.0%, that for articles for daily use fell by 1.8%, and that for durable consumer goods declined by 1.6%.       Among purchasing price indexes for industrial producers, the price index for fuel and power dropped by 8.4%, that for raw chemical materials went down by 5.0%, that for building materials and non-metals fell by 4.5%, that for ferrous metals declined by 3.1%, that for agricultural and sideline products fell by 2.3%, that for textile materials dropped by 1.9%, and that for nonferrous metals and cables rose by 21.3%.   II. Month-on-Month Changes in Industrial Producer Price Indexes   In February, among producer price indexes for industrial products, the price index for means of production increased by 0.5%, pushing the overall producer price index for industrial products up by about 0.38 percentage points. Specifically, the price index for mining and quarrying increased by 1.2%, that for raw materials went up by 0.2%, and that for the processing industry rose by 0.6%. The price index for consumer goods remained unchanged. Specifically, the price index for food stayed flat, that for clothing decreased by 0.4%, that for articles for daily use decreased by 0.2%, and that for durable consumer goods increased by 0.3%.   Among purchasing price indexes for industrial producers, the price index for nonferrous metals and cables increased by 4.8%, that for raw chemical materials increased by 1.0%, that for textile materials rose by 0.2%, that for building materials and non-metals increased by 0.1%, that for fuel and power decreased by 1.2%, that for ferrous metals declined by 0.2%, and that for agricultural and sideline products remained flat.   Industrial Producer Price Indexes in February 2026   |   | Growth Rate M/M (%) | Growth Rate Y/Y (%) | Jan-Feb Growth Rate Y/Y (%) | | --- | --- | --- | --- | | I. Producer Price Indexes for Industrial Products | 0.4 | -0.9 | -1.2 | | Means of production | 0.5 | -0.7 | -1.0 | | Mining and quarrying | 1.2 | -5.3 | -6.7 | | Raw materials | 0.2 | -1.9 | -2.0 | | Processing | 0.6 | 0.3 | 0.0 | | Consumer goods | 0.0 | -1.6 | -1.7 | | Food | 0.0 | -1.8 | -1.8 | | Clothing | -0.4 | -1.0 | -0.8 | | Articles for daily use | -0.2 | -1.8 | -1.8 | | Durable consumer goods | 0.3 | -1.6 | -1.7 | | II. Purchasing Price Indexes for Industrial Producers | 0.7 | -0.7 | -1.1 | | Fuel and power | -1.2 | -8.4 | -7.7 | | Ferrous metals | -0.2 | -3.1 | -3.0 | | Nonferrous metals and cables | 4.8 | 21.3 | 18.7 | | Raw chemical materials | 1.0 | -5.0 | -5.4 | | Timber and paper pulp | -0.5 | -3.0 | -2.8 | | Building materials and non-metals | 0.1 | -4.5 | -4.6 | | Other industrial raw materials and semi-products | 0.5 | -0.3 | -0.7 | | Agricultural and sideline products | 0.0 | -2.3 | -2.6 | | Textile materials | 0.2 | -1.9 | -2.0 | | III. Producer Price Indexes for Major Industries |   |   |   | | Mining and washing of coal | -0.5 | -7.0 | -8.4 | | Extraction of petroleum and natural gas | 5.1 | -12.9 | -14.8 | | Mining and processing of ferrous metal ores | -0.8 | 1.0 | 2.0 | | Mining and processing of non-ferrous metal ores | 7.1 | 30.2 | 26.5 | | Mining and processing of non-metal ores | -0.6 | -5.0 | -4.8 | | Processing of food from agricultural and sideline products | 0.2 | -1.5 | -1.6 | | Manufacture of foods | -0.5 | -2.2 | -2.1 | | Manufacture of liquor, beverages and refined tea | 0.0 | -2.1 | -2.0 | | Manufacture of tobacco | 0.0 | 0.3 | 0.4 | | Textile industry | 0.0 | -1.4 | -1.5 | | Manufacture of textiles, wearing apparel and accessories | -0.6 | -1.5 | -1.3 | | Processing of timber, manufacture of wood, bamboo, rattan, palm and straw products | 0.1 | -2.8 | -2.8 | | Manufacture of paper and paper products | -0.9 | -3.2 | -2.8 | | Printing and reproduction of recording media | -0.3 | -3.7 | -3.7 | | Processing of petroleum, coal and other fuels | 0.4 | -12.0 | -11.7 | | Manufacture of raw chemical materials and chemical products | 1.3 | -3.7 | -4.4 | | Manufacture of medicines | -0.6 | -4.7 | -4.6 | | Manufacture of chemical fibers | 0.6 | -6.0 | -6.2 | | Manufacture of rubber and plastic products | -0.3 | -4.2 | -4.1 | | Manufacture of non-metallic mineral products | -0.2 | -4.9 | -5.1 | | Smelting and pressing of ferrous metals | 0.1 | -3.4 | -3.5 | | Smelting and pressing of non-ferrous metals | 4.6 | 22.1 | 19.6 | | Manufacture of metal products | 0.3 | -0.2 | -0.5 | | Manufacture of general-purpose machinery | -0.1 | -1.1 | -1.2 | | Manufacture of automobiles | -0.2 | -2.4 | -2.4 | | Manufacture of railway, ships, aerospace and other transport equipment | 0.0 | -0.3 | -0.3 | | Manufacture of computers, communication equipment and other electronic equipment | 0.6 | -0.9 | -1.3 | | Production and supply of electricity and thermal power | -3.9 | -5.5 | -3.9 | | Production and supply of gas | 0.0 | -2.5 | -2.5 | | Production and supply of water | -0.1 | 1.6 | 1.6 |   Growth Rate M/M (%) Growth Rate Y/Y (%) Jan-Feb Growth Rate Y/Y (%) I. Producer Price Indexes for Industrial Products 0.4 -0.9 -1.2 Means of production 0.5 -0.7 -1.0 Mining and quarrying 1.2 -5.3 -6.7 Raw materials 0.2 -1.9 -2.0 Processing 0.6 0.3 0.0 Consumer goods 0.0 -1.6 -1.7 Food 0.0 -1.8 -1.8 Clothing -0.4 -1.0 -0.8 Articles for daily use -0.2 -1.8 -1.8 Durable consumer goods 0.3 -1.6 -1.7 II. Purchasing Price Indexes for Industrial Producers 0.7 -0.7 -1.1 Fuel and power -1.2 -8.4 -7.7 Ferrous metals -0.2 -3.1 -3.0 Nonferrous metals and cables 4.8 21.3 18.7 Raw chemical materials 1.0 -5.0 -5.4 Timber and paper pulp -0.5 -3.0 -2.8 Building materials and non-metals 0.1 -4.5 -4.6 Other industrial raw materials and semi-products 0.5 -0.3 -0.7 Agricultural and sideline products 0.0 -2.3 -2.6 Textile materials 0.2 -1.9 -2.0 III. Producer Price Indexes for Major Industries       Mining and washing of coal -0.5 -7.0 -8.4 Extraction of petroleum and natural gas 5.1 -12.9 -14.8 Mining and processing of ferrous metal ores -0.8 1.0 2.0 Mining and processing of non-ferrous metal ores 7.1 30.2 26.5 Mining and processing of non-metal ores -0.6 -5.0 -4.8 Processing of food from agricultural and sideline products 0.2 -1.5 -1.6 Manufacture of foods -0.5 -2.2 -2.1 Manufacture of liquor, beverages and refined tea 0.0 -2.1 -2.0 Manufacture of tobacco 0.0 0.3 0.4 Textile industry 0.0 -1.4 -1.5 Manufacture of textiles, wearing apparel and accessories -0.6 -1.5 -1.3 Processing of timber, manufacture of wood, bamboo, rattan, palm and straw products 0.1 -2.8 -2.8 Manufacture of paper and paper products -0.9 -3.2 -2.8 Printing and reproduction of recording media -0.3 -3.7 -3.7 Processing of petroleum, coal and other fuels 0.4 -12.0 -11.7 Manufacture of raw chemical materials and chemical products 1.3 -3.7 -4.4 Manufacture of medicines -0.6 -4.7 -4.6 Manufacture of chemical fibers 0.6 -6.0 -6.2 Manufacture of rubber and plastic products -0.3 -4.2 -4.1 Manufacture of non-metallic mineral products -0.2 -4.9 -5.1 Smelting and pressing of ferrous metals 0.1 -3.4 -3.5 Smelting and pressing of non-ferrous metals 4.6 22.1 19.6 Manufacture of metal products 0.3 -0.2 -0.5 Manufacture of general-purpose machinery -0.1 -1.1 -1.2 Manufacture of automobiles -0.2 -2.4 -2.4 Manufacture of railway, ships, aerospace and other transport equipment 0.0 -0.3 -0.3 Manufacture of computers, communication equipment and other electronic equipment 0.6 -0.9 -1.3 Production and supply of electricity and thermal power -3.9 -5.5 -3.9 Production and supply of gas 0.0 -2.5 -2.5 Production and supply of water -0.1 1.6 1.6   Annotations:   1. Index Interpretation   The industrial producer price index comprises the producer price index for industrial products (PPI) and the purchasing price index for industrial producers.   The PPI reflects the trend and magnitude of changes in producer prices for products when they are sold for the first time by industrial enterprises.   The purchasing price index for industrial producers reflects the trend and magnitude of changes in prices for intermediate inputs purchased by industrial enterprises.   2. Statistical Coverage   The statistical survey of the PPI covers prices for 41 major industrial categories and more than 1,300 basic categories of industrial products; the statistical survey of the purchasing price index for industrial producers covers prices for 9 major categories and more than 800 basic categories of industrial products.   3. Survey Method   The survey of the industrial producer price index adopts an approach that combines surveys of main units and typical surveys, covering more than 40,000 industrial enterprises across China.   4. Statistical Standard   The industries are classified based on the Industrial Classification for National Economic Activities (GB/T 4754-2017).   5. Data Description   Due to rounding, the aggregated data may be equal to the high or low value of the classified figures. For some categories or industries where price changes are minor, the growth rate becomes zero after being rounded to one decimal place. In such cases, the price change is described as "flat".   6. Base Period Rotation   According to the statistical system arrangement, China's PPI undergoes a base period rotation every five years. Starting from January 2026, the PPI will be compiled and published with 2025 as the base period. Compared with the previous base period, the survey categories, surveyed enterprises and representative specification items, and the category weights have been adjusted to reflect the latest changes in the industrial production structure. According to calculations, the impact of the base period rotation on the monthly year-on-year PPI is approximately 0.08 percentage points on average.