Data released by the National Bureau of Statistics on May 11 showed that in April, the national consumer price index (CPI) rose 0.3% year-on-year and 0.1% month-on-month. The national industrial producer price index (PPI) fell by 2.5% year-on-year, 0.3 percentage points narrower than the previous month and 0.2% month-on-month.
The month-on-month increase in CPI turned from a decline to an increase, and the year-on-year increase expanded slightly
"In April, consumer demand continued to recover, and the national CPI turned from a decline to an increase month-on-month, and the year-on-year increase expanded. Core CPI, which excludes food and energy prices, rose 0.2% month-on-month and fell 0.6% in the previous month. It rose 0.7% year-on-year, an increase of 0.1 percentage points over the previous month. Dong Lijuan, chief statistician of the Urban Department of the National Bureau of Statistics, said.
Image source: National Bureau of Statistics
On a month-on-month basis, the CPI rose 0.1%, compared with a 1.0% decline in the previous month. According to the data, food prices fell by 1.0%, 2.2 percentage points narrower than the previous month, affecting the CPI to fall by about 0.19 percentage points month-on-month. "Among food, the market supply is relatively sufficient, and the prices of fresh vegetables, shrimp and crabs, beef, eggs and fresh fruits fell by 3.7%, 2.8%, 2.7%, 2.3% and 2.0% respectively, which totaled the CPI fell by about 0.16 percentage points month-on-month." Dong Lijuan analyzed.
Non-food prices rose by 0.3% from a decrease of 0.5% in the previous month, affecting the CPI to rise by about 0.27 percentage points month-on-month. "Among the non-food products, affected by the increase in travel during the small and long holidays, the prices of air tickets, transportation rental fees, hotel accommodation and tourism all turned from falling to rising, with increases of 15.3%, 9.0%, 4.0% and 2.7% respectively, totaling the CPI rose by about 0.12 percentage points month-on-month." Dong Lijuan said.
On a year-on-year basis, the CPI rose by 0.3%, an increase of 0.2 percentage points from the previous month. Dong Lijuan said that among them, food prices fell by 2.7%, the same decline as the previous month, affecting the CPI by about 0.49 percentage points year-on-year. Non-food prices rose by 0.9%, an increase of 0.2 percentage points from the previous month, affecting the CPI to rise by about 0.77 percentage points year-on-year.
According to the National Bureau of Statistics, in the 0.3% year-on-year change in CPI in April, the carryover effect was about -0.1 percentage points, and the new impact of this year's price changes was about 0.4 percentage points.
The PPI decreased month-on-month, and the year-on-year decline narrowed
Dong Lijuan said that in April, industrial production continued to recover, the demand of some industries fell in stages, and the national PPI decreased month-on-month, and the year-on-year decline narrowed.
Image source: National Bureau of Statistics
On a month-on-month basis, PPI fell by 0.2%, an increase of 0.1 percentage points from the previous month. Dong Lijuan said that among them, the price of means of production fell by 0.2 percent, the decline rate expanded by 0.1 percentage points, and the price of means of subsistence fell by 0.1 percent, the same rate of decline as the previous month.
"Affected by the upward trend in international crude oil and non-ferrous metal prices, the prices of domestic oil and gas extraction industry, petroleum, coal and other fuel processing industries rose by 3.4% and 1.0% respectively; The prices of non-ferrous metal smelting and rolling processing industry rose by 3.2%, of which the prices of gold smelting and copper smelting increased by 8.0% and 5.8% respectively. Dong Lijuan analyzed.
On a year-on-year basis, PPI fell by 2.5%, 0.3 percentage points narrower than the previous month. Among them, the prices of means of production fell by 3.1 percent, a decrease of 0.4 percentage points, and the prices of means of subsistence fell by 0.9 percent, a decrease of 0.1 percentage points. According to the data, among the major industries, the prices of petroleum, coal and other fuel processing industries fell by 1.0%, and the decline rate narrowed; The price of oil and gas extraction rose by 9.4 percent, and the price of non-ferrous metal smelting and rolling processing industry increased by 3.6 percent, both of which expanded. According to the National Bureau of Statistics, in the year-on-year change of PPI of -2.5% in April, the carryover effect was about -1.8 percentage points, and the new impact of price changes this year was about -0.7 percentage points.
Reviewer: Ni Mingya Editor: Wang Zhuying Wang Yin Proofreader: Jiao Yuanyuan Issued: Fei Yangsheng