Prices continue to operate within a reasonable range - focus on CPI and PPI data in October
2022-11-10
According to the data released by the National Bureau of Statistics on the 9th, the national consumer price index (CPI) rose by 2.1% year on year in October, 0.7 percentage points lower than that of the previous month, and domestic prices continued to operate in a reasonable area, due to the drop in consumer demand after the holiday and the higher comparison base in the same period last year. Among China's CPI "basket" commodities, food accounts for a relatively high proportion. In October, food prices rose 7% year on year, 1.8 percentage points lower than that of last month; It rose 0.1% month on month, 1.8 percentage points lower than that of last month. Dong Lijuan, chief statistician of the Urban Department of the National Bureau of Statistics, analyzed that a large number of fruits, vegetables and aquatic products went on the market in October. In addition, the consumer demand fell after the festival. The prices of fresh vegetables, fresh fruits and aquatic products fell from an increase to a decrease, down 4.5%, 1.6% and 2.3%, respectively; The price of fresh vegetables decreased by 8.1% from 12.1% in the previous month, and the price of fresh fruits decreased by 5.2 percentage points compared with the previous month. Influenced by factors such as the production cycle of live pigs, the short term hold down and the peak season of pork consumption, the pork price rose 9.4% month on month in October, 4 percentage points higher than that of last month; The year-on-year increase was 51.8%, 15.8 percentage points higher than that of last month. The seventh batch of central pork reserves of this year will be launched; Pay close attention to the market operation situation in key regions, and strengthen the monitoring and early warning of the daily necessities market; Strengthen the connection between production and marketing, smooth transportation and distribution, and ensure that the quantity and price of important commodities for people's livelihood such as grain, oil, meat, eggs, milk, fruits and vegetables are sufficient and stable... For several days, a series of measures have been introduced from the central government to the local government to fully protect the people's "vegetable basket" and "rice bag". Statistics show that in October, non food prices rose 1.1% year on year, 0.4 percentage points lower than the previous month; The month on month ratio remained flat. Among them, changes in international oil prices affected domestic gasoline and diesel prices by 1.2% and 1.3% month on month respectively. "Recently, the epidemic situation has spread frequently in many places across the country, and offline contact consumption such as tourism, education and family services has been affected to some extent. In October, the service price rose 0.4% year on year, 0.1 percentage point lower than that of last month." Guo Liyan, head of the Comprehensive Situation Research Office of the Chinese Academy of Macroeconomics, said. It is estimated that in October, the core CPI excluding food and energy prices rose 0.6% year on year, the same increase as last month. "Since this year, the year-on-year growth of China's core CPI has been fluctuating at about 1%, which indicates that the prices of China's industrial consumer goods and services have remained stable," said Wang Likun, an associate researcher of the Market Economy Research Institute of the Development Research Center of the State Council. In terms of industrial product prices, in October, the demand of some industries increased, and the national industrial producer price index (PPI) increased 0.2% month on month from a decrease of 0.1% last month. However, due to the high comparison base in the same period last year, the year-on-year increase of 0.9% turned to a decrease of 1.3%. On a year-on-year basis, in October, the price of means of production increased by 0.6% to 2.5%; The price of means of living rose by 2.2%, an increase of 0.4 percentage points. Among the 40 industrial sectors surveyed, 27 saw their prices rise, down 3 from last month.
Edit：Yi Bing Responsible editor：Wei Li Bin
Source：people.com.cn
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