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MIL OSI Translation. Region: Peoples Republic of China – China Statistical Information Network – Chinese –

CPI and PPI have risen and fallen in October 2019

 

——Shenzhen, senior statistician of the Urban Bureau of the National Bureau of Statistics, interprets CPI and PPI data for October 2019

 

The National Bureau of Statistics released the national CPI (Consumer Consumer Price Index) and PPI (Industrial Producer Ex-factory Price Index) data for October 2019. In this regard, the senior statistician of the Urban Bureau of the National Bureau of Statistics, Shen Yu, explained.

 

First, the CPI growth rate is the same as last month, and the year-on-year increase is widening.

 

From the ring, the CPI rose by 0.9%, the same as last month. Among them, food prices rose by 3.6%, an increase of 0.1 percentage points over the previous month, affecting CPI rose by about 0.78 percentage points; non-food prices rose by 0.2%, the same increase as last month, affecting CPI rose by about 0.12 percentage points. In the food, the supply of fresh fruit and fresh vegetables was sufficient, and the price dropped by 5.7% and 1.7% respectively. The total impact of the two factors was about 0.14%. The price of eggs dropped from up to 1.5%, affecting the CPI by about 0.01 percentage points. Pork prices rose by 20.1%, an increase of 0.4 percentage points over the previous month, affecting CPI by about 0.79 percentage points, accounting for nearly 90% of the total increase in CPI. Affected by the increase in pork prices and consumption substitution demand, the prices of beef, mutton, chicken and duck meat all rose, ranging from 1.0% to 3.1%, and the total impact of the four factors increased by about 0.06 percentage points. In non-food, due to the change of season, clothing prices rose by 0.4%, affecting CPI by about 0.02%. During the National Day, travel increased, hotel accommodation, travel agency fees and airline ticket prices increased by 2.1%, 0.7% and 0.5%, respectively, and the three factors affected the CPI increase by about 0.01%.

 

From a year-on-year perspective, the CPI rose by 3.8%, an increase of 0.8 percentage points over the previous month. Among them, food prices rose by 15.5%, the increase was 4.3 percentage points, affecting CPI rose by about 3.05 percentage points; non-food prices rose by 0.9%, the decline fell by 0.1 percentage points, affecting CPI rose by about 0.70 percentage points. In the food, the price of fresh vegetables dropped by 10.2%, and the price of fresh fruits dropped from up to 0.3%, and the total impact of the two factors decreased by about 0.28 percentage points. Pork prices rose by 101.3%, affecting CPI by about 2.43 percentage points, accounting for nearly two-thirds of the total increase in CPI. The price of beef, lamb, chicken, duck and eggs rose by 12.3%-21.4%, and the five total impacts of CPI rose by about 0.41 percentage points. Among non-food products, health care, education, culture, entertainment, and clothing prices rose by 2.1%, 1.9%, and 1.2%, respectively, and the three factors affected CPI by about 0.49 percentage points. The price of transportation and communication fell by 3.5%, affecting the CPI by about 0.42 percentage points. Among them, the price of gasoline and diesel fell by 15.4% and 16.2% respectively, and the total impact of the two factors decreased by about 0.36 percentage points.

 

The core CPI, which deducts food and energy prices, rose by 0.1% from the previous month, and the growth rate dropped by 0.1 percentage points from the previous month; it rose by 1.5% year-on-year, the same as last month. Excluding the increase in pork prices, the CPI rose by about 0.1% from the previous month and rose by about 1.3% year-on-year.

 

Second, the PPI rose slightly, and continued to decline year on year.

 

From the ring, the PPI rose by 0.1%, the same as last month. Among them, the price of production materials was flat; the price of living materials rose by 0.3%, and the growth rate dropped by 0.2 percentage points from the previous month. From the survey of 40 industrial sectors, there are 17 price increases, one less than last month; 16 down, 5 more; 7 flat, 4 down. Among the major industries, the oil and gas exploration industry, which has gone up and down, rose 0.8%; the oil, coal and other fuel processing industries rose 0.4%; the gas production and supply industry rose 0.3%. The ferrous metal mining and mining industry, which had a narrower decline, fell by 0.5%, narrowing by 1.9 percentage points from the previous month; the ferrous metal smelting and rolling processing industry fell by 0.3%, narrowing by 1.0 percentage point; coal mining and washing industry, Declined by 0.1% and narrowed by 0.1 percentage points. The agricultural and sideline food processing industry rose 1.8%, the same as last month. Non-ferrous metal smelting and rolling processing industries fell from up to down, down 0.3%.

 

From the same period of last year, the PPI fell by 1.6%, a decrease of 0.4 percentage points from the previous month. Among them, the price of production materials fell by 2.6%, the decline increased by 0.6 percentage points; the price of living materials rose by 1.4%, and the increase was 0.3 percentage points. Among the major industries, the oil and gas exploration industry, which has expanded by a decline, fell by 17.9%, up 4.5 percentage points from the previous month; oil, coal and other fuel processing industries fell by 12.0%, expanding by 2.4 percentage points; chemical raw materials and chemical products manufacturing Industry, down 6.2%, expanding by 0.7 percentage points; ferrous metal smelting and rolling processing industry, down 6.1%, expanding by 0.3 percentage points. The decline in ferrous metal mining and mining industry rose by 12.5%, down 3.2 percentage points; non-ferrous metal smelting and rolling processing industry rose 0.2%, down 0.8 percentage points. The coal mining and washing industry declined from 1.0% to 10,000. According to estimates, in the 1.6% year-on-year decline in October, the impact of price changes last year was about -1.2 percentage points, and the new price increase was about -0.4 percentage points.

 

EDITOR’S NOTE: This article is a translation. Apologies should the grammar and/or sentence structure not be perfect.

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