%
growth in cost of living from 2021 to 2023
%
increase in consumer prices from 2021 to 2023
2 in 3 Chinese consumers feel financially secure.
But more than half are worried about the rising cost of everyday expenses.
Source: Euromonitor International Voice of the Consumer: Lifestyles Survey, fielded January to February 2023 (n=1,039)
7%
food price index growth from 2021 to 2023
5%
housing price index growth from 2021 to 2023
Food and housing prices moderately increased over the past two years.
Note: Food price index includes non-alcoholic beverages.
Essential Spending by Income Decile
Decile 10 spends nearly 6x the amount of decile 1 on essentials and more than double decile 5. Food is the higher spend category for decile 1, but housing is the biggest expense for decile 10 here.
Note: Spend per household in USD. Clothing expenditure includes footwear. Food expenditure includes non-alcoholic beverages.
DECILE 1
$
projected spend on clothing, food and housing per household in 2023
0%
of total expenditure
DECILE 5
$
projected spend on clothing, food and housing per household in 2023
0%
of total expenditure
DECILE 10
$
projected spend on clothing, food and housing per household in 2023
0%
of total expenditure
Essential Spending in the Biggest Cities
Clothing, food and housing will account for 40% to 54% of total household expenditure in the biggest cities in China this year.
Note: Based on share of total household expenditure on essentials in 2023. Clothing expenditure includes footwear. Food expenditure includes non-alcoholic beverages.
Which city dwellers will be the most impacted?
