Inflation China 2023
Average inflation: 0.2%
Current Inflation
Inflation is very low at 0.2%, well below the ECB target.
Peak and Trough
The highest inflation was in January at 2.1%. The lowest inflation was in November at -0.5%.
- Highest month
- January: 2.1%
- Lowest month
- November: -0.5%
- Difference
- 2.6 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Food and non-alcoholic beverages with an average of -0.3%. The lowest price increase was in Food and non-alcoholic beverages with an average of -0.3%.
- Highest increase
- Food and non-alcoholic beverages: -0.3%
- Lowest increase
- Food and non-alcoholic beverages: -0.3%
Historical Context
Current inflation is 1.5% lower than the 5-year average of 1.7%.
- 5-year average
- 1.7%
- 10-year average
- 1.8%
- All-time high (2008)
- 5.9%
- All-time low (2009)
- -0.7%
Trend
Inflation has remained relatively stable. Compared to 2022, the difference is minimal (-1.8 percentage point).
- Change vs. previous year
- -1.8 percentage points
- Largest monthly swing
- July: -3.0 percentage points
ECB Target
Inflation is 1.8% below the ECB target of 2.0%. Too low inflation may indicate economic weakness.
Purchasing Power
At this inflation rate, purchasing power gradually decreases. The impact on daily expenses is relatively limited.
What you could buy for €100 this year will cost approximately €100.20 next year at this inflation rate.
Multi-year trend
Monthly figures 2023
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2022 |
|---|---|---|
| January | 2.1% | +1.2 |
| February | 1.0% | +0.1 |
| March | 0.7% | -0.8 |
| April | 0.1% | -2.0 |
| May | 0.2% | -1.9 |
| June | 0.0% | -2.5 |
| July | -0.3% | -3.0 |
| August | 0.1% | -2.4 |
| September | 0.0% | -2.8 |
| October | -0.2% | -2.3 |
| November | -0.5% | -2.1 |
| December | -0.3% | -2.1 |
| Average | 0.2% |
Data source
Data from OECD. Last updated: 19/12/2025.