The National Bureau of Statistics released data on the 9th, stating that in February, the National Consumer Price Index (CPI) decreased by 0.8% year-on-year from the previous month to an increase of 0.7%; The month on month increase was 1.0%, an increase of 0.7 percentage points from the previous month. Statistical data shows that in February, food prices decreased by 0.9% year-on-year, which is 5.0 percentage points narrower than the previous month. In food, pork prices have rebounded for the first time after a continuous decline of 9 months, rising by 0.2%; The prices of fresh vegetables and aquatic products have increased by 2.9% and 4.1%, respectively, from a decrease of 12.7% and 3.4% last month; The prices of potatoes, eggs, edible oil, beef and mutton, and fresh fruits have decreased by 4.1% to 12.2%. In February, non food prices increased by 1.1% year-on-year, an increase of 0.7 percentage points from the previous month. In the non food sector, service prices increased by 1.9%, expanding by 1.4 percentage points, affecting a CPI increase of about 0.76 percentage points. Among them, the prices of tourism, air tickets, and transportation rental fees increased by 23.1%, 20.8%, and 17.4%, respectively. According to calculations, in February, the core CPI excluding food and energy prices increased by 1.2% year-on-year, an increase of 0.8 percentage points from the previous month, the highest increase since February 2022. In February, due to factors such as the Spring Festival holiday, industrial production was in the traditional off-season, and the National Producer Price Index (PPI) decreased by 0.2% month on month, the same as last month; A year-on-year decrease of 2.7%, with a slight expansion in the decline. (Lai Xin She)
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