菜油主力 (ZCE_OI) 加自选

随着通货膨胀率上升，中国在2025年避免了通货紧缩，但仍有可能放松。中国在2025年勉强避免了彻底的通货紧缩，消费者通胀率在年底达到近三年来的最高水平，不过，荷兰国际集团的分析师警告称，价格压力仍然很低，远低于其他主要经济体的水平。

China avoids deflation in 2025 as inflation edges higher, easing still likely.China narrowly avoided outright deflation in 2025, with consumer inflation ending the year at its highest level in nearly three years, though, analysts at ING caution that price pressures remain subdued and well below levels seen in other major economies.

中国的CPI在2025年12月加速至3年来的最高点，但通货紧缩问题依然存在。12月，中国消费者价格指数加速至近三年来的最快水平，而生产者价格指数连续40个月陷入通货紧缩。

China's CPI Accelerated to 3-Year High in December 2025, But Deflation Woes Remain.China's consumer prices accelerated to their fastest pace in nearly three years in December while producer prices remained mired in deflation for a 40th consecutive month.

中国通货膨胀率接近三年高点，但生产者通货紧缩表明需求疲软。12月，中国消费者通胀加速至近三年来的最快水平，而出厂价格仍处于通货紧缩状态，突显出整体价格改善与潜在需求仍然疲软之间的持续不平衡。

China inflation hits near three-year high, but producer deflation signals weak demand.China's consumer inflation accelerated in December to its fastest pace in nearly three years, while factory-gate prices remained in deflation, underscoring the persistent imbalance between improving headline prices and still-weak underlying demand.

突破：中国12月CPI通胀同比上升0.8%，而预期为0.9%。突破：中国12月CPI通胀同比上升0.8%，而预期为0.9%

Breaking: China's CPI inflation picks up to 0.8% YoY in December vs. 0.9% expected.Breaking: China's CPI inflation picks up to 0.8% YoY in December vs. 0.9% expected