According to statistics released by the Shandong investigation team of National Bureau of Statistics, in December 2020, Shandong's Consumer Price Index (CPI) remained the same as the same period last year, dropping by 0.2% in urban areas while rising by 0.4% in rural areas. It rose by 1.1% month-on-month, turning from downward to upward. From January to December, Shandong’s CPI rose by 2.8% over the same period of the previous year.

In December, the prices of food, tobacco and alcohol rose by 1.3% year-on-year, resulting in an increase of 0.4% in CPI. Among the other seven categories, prices of other supplies and services, and medical care increased by 2.2% and 1.0% respectively. The prices of transportation and communications, daily necessities and services, housing, clothing, education, culture, and entertainment dropped by 3.7%, 0.7%, 0.4%, 0.2%, and 0.1% respectively.