Xinhua Full Media+| News Analysis: August CPI and PPIs have fallen year -on -year, and the continuous results of the policy of maintaining stability and price stability

The National Bureau of Statistics released data on the 9th. In August, the consumer price index (CPI) of the National Residents rose from 0.5%to 0.1%from the previous month. Although the year -on -year increased by 2.5%, the increase fell 0.2 percentage points from the previous month. Overall, the price continues to run in a reasonable range.

"In August, various regions and departments conscientiously implemented the decision -making and deployment of the Party Central Committee and the State Council, worked hard to overcome the impact of epidemic and extreme weather, actively do a good job of maintaining stable prices, and the overall consumer market operation was stable." Dong Lijuan said.

Regarding the rise of CPIs from the previous month in August, Guo Liyan, director of the Comprehensive Situation Research Office of the China Macro Economic Research Institute, believes that the decline in traffic and communication prices is the main factor. Among them, affected by international oil prices, gasoline and diesel prices decreased by about 5%month -on -month, affecting CPI by 0.2 percentage points.

Statistics show that in August, the price of milk, eggs, and grain in food in food rose between 0.8%and 3.3%year -on -year, and the price was relatively stable; the price of fresh fruits and fresh vegetables declined year -on -year; The lower effect, the price of pork rose 22.4%year -on -year, an increase of 2.2 percentage points from the previous month. The core CPI of food and energy prices rose 0.8%year -on -year, the same as last month.

Industry analysts said that at present, affected by factors such as input inflation pressure and seasonal rising pork prices, the low base effect of the same period last year, some of my country's goods and services are still facing a certain increase in pressure, but in sharp contrast to the international high inflation. my country's prices are generally running smoothly.

"Looking forward to the late period of this year, my country's grain, oil, meat, eggs, milk, fruits and vegetables have stable production, and local regions have increased cross -regional transfer and supply guarantee. In addition, the central and local governments are currently carried out freezing pork reserves. In a reasonable range, "Guo Liyan said.

In August, affected by various factors such as the fluctuation of commodity prices such as non -ferrous metals and the weak market demand in the domestic industry, the price trend of industrial products declined as a whole. National industrial producers' ex -factory price index (PPI) decreased by 1.2%month -on -month, a decrease of 0.1 percentage points narrowed from the previous month, an increase of 2.3%year -on -year.

In addition to the impact of the elevated base of the comparison base in the same period last year, Guo Liyan said that the continued decline in PPI was tightened by global liquidity, and the growth momentum of major economies such as the United States and Europe has slowed down. The continuous emergence of the policy effect has driven the price of domestic energy and industrial raw materials to continue the downward trend.

According to statistics, from the year -on -year perspective, in August, the price of production data affects PPI rising by about 1.87 percentage points, which is the main driving force for ppi rising; the price of living data affects the increase of PPI by about 0.38 percentage points. Among the major industries in the upstream, the prices of coal mining and washing and selection, oil and natural gas mining, petroleum coal and other fuel processing industries, chemical raw materials and chemical products manufacturing have fallen, black metal smelting and extension industrial prices have expanded. The price of smelting and pressure -delay industrial prices has shifted from rising.

"Considering that the price of international commodities generally falls, the domestic commodity protection prices are solidly promoted, and the tail tails are significantly narrowed. The increase in PPI in the later period is expected to continue to fall." Guo Liyan said.

Edit: Sun Xinqi

Source: Xinhua News Agency

- END -