The year-over-year increase in the CPI in September widened and the year-over-year increase in the CPI continued to decline——
The overall level of domestic prices remained stable
The latest data released by the National Statistics Office on October 14 showed that the national consumer price index (CPI) in September increased 2.8% year-over-year and 0.3% month-over-month; the producer price index (PPI) of industrial producers increased by 0.9% yoy and decreased by 0.1% on a monthly basis. On average from January to September, CPI and PPI increased 2% and 5.9% year-on-year, respectively.
“In the first three quarters, against the backdrop of high and difficult international inflation, the work to secure supply and stabilize prices for domestic bulk goods and commodities important to people’s livelihoods was solidly advanced and prices worked without hitches. ” Guo Liyan, said the director of the Comprehensive Situation Research Office of the China Academy of Macroeconomics.
Dong Lijuan, chief statistical officer of the city department of the National Statistical Bureau, said in September various regions and departments continued to coordinate the promotion of epidemic prevention and control and economic and social development and took multiple measures to ensure the procurement and price of important subsistence goods.
Year-on-year, CPI rose 2.8% in September, up 0.3 percentage points from the previous month. Core CPI, excluding food and energy prices, was up 0.6% year-on-year, down 0.2 percentage points from the previous month. “CPI is moderate and controllable year over year. On the one hand, it reflects that domestic demand is still picking up and that stable growth and employment cannot be eased; on the other hand, inflation is moderate and controllable. , which will continue to create a favorable environment for macro regulation, “said Zhou Maohua, a macro researcher with the Everbright Bank Department of Financial Markets of China.
From a monthly perspective, CPI rose 0.3% from a decrease of 0.1% the previous month. Food prices rose 1.9%, an increase of 1.4 percentage points from the previous month. Guo Liyan said that the increased demand for food consumption during the festival, coupled with the impact of the epidemic and unfavorable climate on the production and transportation of fresh agricultural products, the prices of fresh vegetables, eggs and fresh fruit are all increased.
Dong Lijuan said that in September the prices of international crude oil and other bulk commodities continued to decline, demand in some domestic industries rebounded, and the price of industrial products declined, but the downward trend has slowed.
Year-on-year, the PPI was up 0.9%, down 1.4 percentage points from the previous month and down for 11 consecutive months. Among them, the prices of means of production increased by 0.6% and the increase decreased by 1.8 percentage points, the prices of livelihoods increased by 1.8% and the increase increased by 1.8 percentage points. 0.2 percentage points.
From a monthly perspective, the PPI was down 0.1%, down 1.1 percentage points from the previous month. Guo Liyan said that due to the tightening of global liquidity and the weakening of the growth momentum of major economies such as the United States and Europe, international commodity prices have continued to fall, pushing domestic prices of the energy and industrial commodities to continue their downward trend.
Pang Ming, chief economist and director of research at JLL Greater China, believes that since the second half of this year the CPI operations center has increased significantly compared to the first half of the year, but the year-over-year increase is not ha progressively exceeded 3% Inflationary pressures have increased but are still manageable. The next stage of monetary policy thinking should continue to take into account the short and long term, economic growth and price stability, internal equilibrium and external equilibrium, to provide support for the real economy.
“Looking forward to the third and fourth quarters, the bumper crop of autumn cereals will provide solid support for stable grain production throughout the year. The effect of securing the supply and price of important raw materials for people’s livelihoods. it will continue to show. Furthermore, the effect of tail-raising will gradually weaken and the CPI will continue to operate within a reasonable range. ” queuing effect, the year-over-year increase in PPI is expected to decline to some extent and the overall transaction will fall within a reasonable range. (Our reporter Xiong Li)
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责编：廖慧 ]
