2026年1月,中国通胀放缓,但核心物价上升,表明尽管通缩压力持续,需求趋于稳定。 China's inflation slowed in January 2026, but core prices rose, signaling stabilizing demand despite ongoing deflationary pressures.

中国的消费价格在2026年1月同比上涨了0.2%,从12月的0.8%增长放缓,低于预测,其驱动因素是去年年初中国新年的基础效应和能源价格5.0%的下跌。 China's consumer prices rose 0.2% year-on-year in January 2026, slowing from December’s 0.8% increase and falling short of forecasts, driven by base effects from last year’s early Chinese New Year and a 5.0% drop in energy prices. 核心通货膨胀率从1.2%降至0.8%,尽管每月核心消费物价指数上升了0.3%,是近六个月来最快的,表明基本需求有所改善。 Core inflation eased to 0.8% from 1.2%, though monthly core CPI rose 0.3%, the fastest in nearly six months, signaling improving underlying demand. 与此同时,生产者价格每年下跌1.4 % , 从12月的1.9 % 的下降开始下降,在与AI相关的部门需求强劲、国家市场统一以及全球初级商品价格上涨的支持下,生产者价格指数连续第四次每月增长。 Meanwhile, producer prices declined 1.4% annually, narrowing from December’s 1.9% drop, with the fourth consecutive monthly gain in the PPI, supported by stronger demand in AI-related sectors, a unified national market, and higher global commodity prices. 通缩仍是一个令人关切的问题,国内需求疲软,能力过剩持续存在,促使政策持续支持。 Deflation remains a concern, with weak domestic demand and overcapacity persisting, prompting continued policy support.