China?s luxury consumer price index?s rate of increase is at a five-year high, according to a report from Hurun.
From June 2015 to June 2016, the luxury consumer price index increased by 5.1 percent, much higher than the standard consumer price index (CPI)?s 1.9 percent increase, per the National Bureau of Statistics of China. As prices increase, China?s upper classes are also growing in number and all consumers are maintaining confidence in the country?s economy, all good signs for brands.
?Luxury property, health and education drove up the Luxury Consumer Price Index this year, coupled with a decrease in the value of the Chinese Yuan against most of the major currencies,? said Rupert Hoogewerf, chairman and chief researcher of Hurun Report.
The luxury consumer price index (LCPI) is an alternative index measuring the annual change in prices for a basket of 124 goods and services across 11 categories: properties, health, education, travel, weddings, watches and jewelry, accessories and skincare, jets and yachts, leisure, high-end alcohol and tobacco and automobiles. Price hike

Over the past decade, the LCPI has grown 75 percent, more than twice as much as the CPI. This year?s overall 5.1 percent increase signals a recovery after last year?s drop.
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That recovery of the luxury property market, which dropped 1.9 percent last year, led all growth categories. Luxury home prices increased 13 percent, spurred by 57 percent growth in Shenzhen, China.
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