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China’s consumer prices climbed at their fastest pace in nearly three years in December while factory-gate deflation eased, adding to evidence that price pressures are stabilising even as demand remains uneven across the economy.
China prices show firmer momentum
Data released by the National Bureau of Statistics showed annual consumer price inflation accelerating to its strongest level since early 2022, driven by higher food costs and a gradual recovery in some service categories. At the same time, producer prices fell at a slower pace, marking a further moderation in factory-gate deflation that has weighed on corporate margins for much of the past year.
The figures offer a nuanced picture for policymakers in Beijing. Households have faced prolonged price weakness amid a sluggish property sector and cautious consumer spending, while manufacturers have struggled with excess capacity and weak external demand. December’s readings suggest those deflationary forces may be losing intensity, though not disappearing altogether.
Food prices were a key driver of the headline consumer inflation increase. Pork prices rose on a low base after earlier declines, while seasonal demand pushed up costs for fresh vegetables and other staples. Core inflation, which strips out volatile food and energy components, also edged higher, pointing to tentative improvement in underlying demand rather than a one-off spike.
Economists noted that service prices, including travel and leisure, showed firmer momentum as domestic tourism and entertainment spending improved toward the year-end. However, discretionary retail categories remained mixed, reflecting ongoing household caution and the lingering impact of earlier job-market softness.
On the production side, the producer price index stayed in negative territory but posted a smaller year-on-year decline than in previous months. The easing was linked to stabilising commodity prices, modest improvement in industrial demand and policy efforts to curb destructive price competition in sectors facing overcapacity. Heavy industries such as steel and chemicals continued to face pressure, while technology manufacturing showed more resilience.
The data come as authorities seek to balance growth support with financial stability. The government has rolled out targeted fiscal measures, including infrastructure spending and tax relief for smaller firms, while encouraging banks to channel credit toward advanced manufacturing and green industries. Monetary policy has remained accommodative, with the central bank signalling readiness to fine-tune liquidity conditions if deflation risks persist.
Officials at the People’s Bank of China have repeatedly stressed the need to avoid both deflation and excessive stimulus that could inflate asset bubbles. The December inflation readings strengthen the argument that incremental measures are gaining traction, though the pace of recovery remains modest by historical standards.
Market reaction to the data was measured. Equity investors focused on the prospect of improving corporate pricing power, while bond yields remained anchored by expectations that policy support would continue. Currency markets showed little volatility, reflecting the broader view that China’s recovery will be gradual rather than abrupt.
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At the same time, external factors could influence the trajectory. Global energy prices have been volatile, and geopolitical tensions have the potential to disrupt supply chains. Any renewed surge in commodity costs would feed into producer prices first, with a lagged effect on consumers.
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HONG KONG SAR – Media OutReach Newswire – 7 January 2026 – Asia’s young adults are taking a structured approach to managing their finances, according to a new study published by Prudential plc (“Prudential”), the leading Asia and Africa insurer. The research, titled “Financial Mindset of Young Adults in Asia”, finds that more than seven in 10 respondents (71 per cent) choose clear planning over spontaneity, maintaining consistent insurance and investment habits. This pragmatism is coupled with optimism: nearly 70 per cent believe their personal finances will improve in the next five to 10 years.
The study surveyed over 5,300 young adults aged 20-35 across seven Asian markets, including Hong Kong, Indonesia, Malaysia, the Philippines, Singapore, Taiwan, and Thailand, aiming to take a pulse on this dynamic generation’s insurance and investment experiences, preferences, and attitudes.
A Generation of Financial Pragmatists
The majority of Asia’s young adults believe living in uncertainty is now the norm (63 per cent), citing financial security as their top life concern (77 per cent), surpassing family responsibilities (53 per cent), health (52 per cent), career and education (42 per cent). Close to 60 per cent report focusing more on the future over enjoying the present moment.
Amidst this prevailing sense of unpredictability, young Asians maintain a positive personal financial outlook. Sixty-four per cent express confidence that they will have enough money to fund retirement.
In terms of financial management, more than half of young adults (53 per cent) seek a balance of smart investment strategies with freedom to enjoy life. Flexibility remains a defining preference, with 62 per cent of respondents favouring financial solutions that evolve alongside their lives and aspirations, rather than adhering rigidly to one style of saving or investing.
A measured risk profile with a long-term perspective also defines how young adults in Asia approach investment. They are balanced between high-risk investments for higher returns (42 per cent) and safe, low-risk options such as fixed deposits to safeguard savings (40 per cent). Nearly 60 per cent prefer investment instruments designed to be held for an extended period, reflecting an orientation toward sustainable financial growth.
Priscilla Ng, Chief Customer and Wealth Officer at Prudential plc, said: “Prudential is committed to empowering people across all life stages, including young adults, to shape their future, protecting possibilities and nurturing every promise. Today, Asia’s median age is just 32.5 years1, highlighting a vibrant and youthful population. This generation is redefining how financial management and security is approached, with unique priorities and expectations. Understanding their perspectives helps us tailor solutions that are simple, accessible, and relevant to their needs.”
Digital Ease, Human Expertise
The survey further reveals that young adults in Asia are navigating their insurance and investment journey through a blend of digital convenience and human support. With the prevalence of digital tools, 61 per cent of respondents feel confident researching and selecting products on their own, and 54 per cent are confident managing their portfolio independently.
Yet, human touchpoints remain highly valued: 64 per cent prefer consulting financial advisers for life or health insurance decisions and ongoing support, especially when handling complexities in coverage details (70 per cent) and the claims process (68 per cent). At the same time, digital platforms are favoured for real-time financial management, reflecting a growing demand for hybrid insurance and investment experiences that integrate technology and personal guidance – an approach that strongly resonates with today’s pragmatic young adults.
Millennials and Gen Z are expected to make up about half of Asia-Pacific’s consumers by 20302. For insurers, this means reimagining engagement with this segment through simple, accessible products and innovative, empathetic experiences that blend data, technology, and human understanding, said Ms. Ng.
Explore the detailed findings in the full report.
1 United Nations’ World Population Prospects 2024
2 Eastspring Investment: Asia’s consumer-fuelled growth, September 2025Hashtag: #Prudential
The issuer is solely responsible for the content of this announcement.
Financial Mindset of Young Adults in Asia is a Prudential commissioned report, delving into the insurance and investment experiences, preferences and attitudes of 5,348 people aged 20-35 in seven Asian markets. through online quantitative survey. The survey was conducted in July-August 2025.
Prudential provides life and health insurance and asset management in Greater China, ASEAN, India and Africa. Prudential’s mission is to be the most trusted partner and protector for this generation and generations to come, by providing simple and accessible financial and health solutions. The business has dual primary listings on the Stock Exchange of Hong Kong (HKEX: 2378) and the London Stock Exchange (LSE: PRU). It also has a secondary listing on the Singapore Stock Exchange (SGX: K6S) and a listing on the New York Stock Exchange (NYSE: PUK) in the form of American Depositary Receipts. It is a constituent of the Hang Seng Composite Index and is also included for trading in the Shenzhen-Hong Kong Stock Connect programme and the Shanghai-Hong Kong Stock Connect programme.
Prudential is not affiliated in any manner with Prudential Financial, Inc. a company whose principal place of business is in the United States of America, nor with The Prudential Assurance Company Limited, a subsidiary of M&G plc, a company incorporated in the United Kingdom.
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