According to the Beijing Municipal Bureau of Statistics, in July 2026, the city's Consumer Price Index (CPI) shifted from a month-on-month decline to a rise, while the year-on-year growth rate moderated.

On a monthly basis, the CPI rose by 0.2% from June, reversing a 0.4% decline in the previous month. Food prices dropped by 0.6%, narrowing the decline by 0.6 percentage points from the prior month. Within the food category, seasonal fruits hit the market in large volumes, pushing fresh fruit prices down by 4.0%. Egg supply remained ample, leading to a 1.7% price decrease. Pork prices experienced an initial rise followed by a fall due to short-term adjustments in hog supply, resulting in an overall monthly increase of 5.1%. Increased rainfall in some major producing regions drove fresh vegetable prices up by 0.9%. Non-food prices turned from a 0.3% decline in June to a 0.4% increase in July. Among non-food items, industrial consumer goods prices fell by 0.7%, with significant volatility in international gold and crude oil prices driving down gold jewelry and gasoline prices by 1.8% and 10.6% respectively, collectively dragging the CPI down by about 0.22 percentage points. Service prices rose by 0.8%, driven by a surge in summer tourism and strong demand for travel-related services, which boosted prices for vehicle rental and airfares by 14.3% and 2.9% respectively, while hotel accommodation and travel agency fees increased by 6.4% and 1.9%.

On an annual basis, the CPI rose by 0.2% in July, a 0.5 percentage point slowdown from June. Food prices fell by 2.6%, reducing the CPI by approximately 0.33 percentage points. Within the food category, pork, fresh fruit, and fresh vegetable prices dropped by 14.4%, 5.5%, and 3.9% respectively, together contributing to a 0.29 percentage point decrease in the CPI. Egg prices rose by 15.6%, a 1.3 percentage point slowdown from the previous month, while beef, lamb, and poultry prices posted gains ranging from 1.2% to 6.3%. Non-food prices increased by 0.7%. Industrial consumer goods prices rose by 1.1%, a 1.4 percentage point slowdown from June, contributing 0.27 percentage points to the CPI, with gold jewelry and gasoline prices climbing 23.9% and 0.8% respectively. Upstream raw material cost pressures, combined with demand from emerging industries, drove prices of data storage devices and computers up by 26.5% and 18.7%. Service prices rose by 0.7%, where airfares, influenced by high base effects from last year and recent reductions in fuel surcharges, swung from a 13.3% increase to a 15.4% decline. Travel agency fees rose by 7.7%, and prices for medical services, education, and housekeeping services increased between 0.8% and 6.1%.