Consumer prices fell 0.3% year-on-year and pork prices fell 26.1% in December 2023

In December 2023, the national consumer price fell by 0.3% year-on-year. Among them, the price of urban goods decreased by 0.3 percent, the price of rural areas decreased by 0.5 percent, the price of food decreased by 3.7 percent, the price of non-food goods rose by 0.5 percent, the price of consumer goods decreased by 1.1 percent, and the price of services rose by 1.0 percent.

In December, the national consumer price rose by 0.1% month-on-month. Among them, the price of urban goods increased by 0.1%, the price of rural areas increased by 0.1%, the price of food rose by 0.9%, the price of non-food goods decreased by 0.1%, the price of consumer goods rose by 0.1%, and the price of services rose by 0.1%.

For the whole of 2023, the national consumer price rose by 0.2% over the previous year.

Consumer prices fell 0.3% year-on-year and pork prices fell 26.1% in December 2023

1. Year-on-year changes in the prices of various commodities and services

In December, the prices of food, tobacco and alcohol fell by 2.0% year-on-year, affecting the CPI (consumer price index) by about 0.57 percentage points. Among the foodstuffs, the price of livestock and meat decreased by 15.9 percent, affecting the CPI by about 0.56 percentage points, of which the price of pork decreased by 26.1 percent, affecting the CPI by about 0.43 percentage points, the price of eggs decreased by 7.0 percent, affecting the CPI by about 0.05 percentage points, the price of aquatic products decreased by 0.6 percent, affecting the CPI by about 0.01 percentage points, the price of fresh fruits decreased by 0.3 percent, affecting the CPI by about 0.01 percentage points, and the price of fresh vegetables rose by 0.5 percent , affecting the CPI to rise by about 0.01 percentage points, and the price of grain rose by 0.4%, affecting the CPI to rise by about 0.01 percentage points.

The prices of the other seven categories rose five times year-on-year, one flat and one decreased. Among them, the prices of other goods and services, education, culture and entertainment, and clothing rose by 2.9 percent, 1.8 percent and 1.4 percent respectively, the prices of medical care and housing increased by 1.4 percent and 0.3 percent respectively, the prices of daily necessities and services remained flat, and the prices of transportation and communication decreased by 2.2 percent.

2. Month-on-month changes in the prices of various goods and services

In December, the prices of food, tobacco and alcohol rose by 0.6% month-on-month, affecting the CPI to rise by about 0.18 percentage points. Among the foodstuffs, the price of fresh vegetables rose by 6.9%, affecting the CPI by about 0.14 percentage points, the price of fresh fruits rose by 1.7%, affecting the CPI by about 0.03 percentage points, the price of aquatic products rose by 0.9%, affecting the CPI by about 0.02 percentage points, and the prices of livestock and meat decreased by 0.6%, affecting the CPI by about 0.02 percentage points, of which the price of pork decreased by 1.0%, affecting the CPI by about 0.01 percentage points.

The prices of the other seven categories rose five times month-on-month, one flat and one decreased. Among them, the prices of daily necessities and services and other articles and services increased by 0.8 percent and 0.3 percent respectively, the prices of clothing, education, culture and entertainment, and medical care all increased by 0.1 percent, the prices of housing remained unchanged, and the prices of transportation and communication decreased by 1.2 percent.

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1. Indicator interpretation

The Consumer Price Index (CPI) is a relative number that measures the changes in the price level of consumer goods and services over time, and comprehensively reflects the changes in the price level of consumer goods and services purchased by residents.

2. Statistical scope

The Consumer Price Survey covers the prices of goods and services in 8 categories, including food, tobacco and alcohol, clothing, housing, daily necessities and services, transportation and communications, education, culture and entertainment, medical care, and other articles and services, which are consumed by urban and rural residents nationwide.

3. Survey methodology

The sampling survey method is used to select and determine the survey outlets, and in accordance with the principle of "fixed person, fixed point, and timing", directly send people to the survey outlets or collect the original price from the Internet. The data comes from about 500 cities and counties in 31 provinces (autonomous regions and municipalities) across the country, and nearly 100,000 price survey points, including shopping malls (stores), supermarkets, farmers' markets, service outlets and Internet e-commerce.

4. Data description

Due to rounding, there are times when the aggregate data has the same high or low value as the categorical data.

Consumer prices fell 0.3% year-on-year and pork prices fell 26.1% in December 2023

Consumer prices fell 0.3% year-on-year and pork prices fell 26.1% in December 2023

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