Pork is down again!
Latest data from the National Bureau of Statistics
March
Pork prices fell 41.4%
Fresh vegetable prices rise 17.2%
Average from January to March
CPI up 1.1% year-over-year
According to data released by the National Bureau of Statistics, the CPI of the mainland consumer price index rose by 1.5% year-on-year in March this year, an increase of 0.6 percentage points over the previous month. The industrial producer price index PPI rose 8.3% year-on-year, and the increase continued to decline.
From the perspective of food prices, in March, pork prices continued to decline (down 41.4% year-on-year), and fresh vegetable prices rose significantly higher year-on-year (from a year-on-year decline to an increase of 17.2%). The decline in food prices narrowed by 2.4 percentage points from the previous month. From the perspective of non-food prices, international oil prices rose sharply, driving the price of domestic industrial consumer goods upwards, and the price of domestic industrial consumer goods rose by 3.5%, which in turn led to a year-on-year increase in CPI.
Liu Xinwei, researcher of Zhuo Chuang Information: There was a certain upward pressure on the CPI in March, but it was generally controllable, mainly due to the relative stability of mainland food prices, especially pork prices are still in a downward channel.
In addition, in March, due to factors such as rising international commodity prices, the PPI rose month-on-month, but the year-on-year increase continued to fall. According to expert analysis, the stable supply and price stability of domestic coal and steel have a certain hedging effect on the rise in international commodity prices, thus alleviating the upward trend of PPI.
Wei Qijia, director of the Industrial Economic Research Office of the Forecasting Department of the State Information Center: In the short and medium term, we should pay attention to preventing a spillover effect on the PPI due to domestic and foreign uncertainties, especially international uncertainties. The focus of the next step in ensuring supply and price stability is to ensure the stable supply of domestic bulk raw material commodities. After maintaining a stable supply, we have the ability to ensure that the PPI price is still in a reasonable range throughout the year.
Source: CCTV Finance
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