Post sponsored by NewzEngine.com

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

Since the beginning of this year, various regions and departments have resolutely implemented the decision-making and deployment of the Party Central Committee and the State Council, strived to reduce the negative impact of the new coronary pneumonia epidemic, spare no effort to ensure supply and stabilize prices, and actively restore the order of production and life. There has been a drop, and the overall national price operation has been stable.

A

1. Structural price increase in the consumer sector

A

CPI’s growth rate dropped month by month. In the first quarter, the CPI rose by 4.9% over the same period last year, an increase of 3.1 percentage points from the same period last year and 0.7 percentage points from the fourth quarter of last year. In terms of months, the increase has been decreasing month by month. The CPI rose more in the first two months, rising 1.4% month-on-month in January and 5.4% year-on-year; the month-on-month increase in February fell to 0.8% and 5.2% year-on-year. In March, as the domestic epidemic prevention and control situation continued to improve, transportation logistics gradually recovered, and market supply continued to improve, the CPI fell from a rise to a decline of 1.2%, and the year-on-year increase fell to 4.3%.

A

The increase in food prices is the main factor driving up the CPI increase. In the first quarter, food prices rose by 20.3%, an increase of 18.1 percentage points over the same period last year, affecting CPI by about 4.09 percentage points, accounting for more than 80% of the total increase in CPI. The increase in food prices is mainly due to the combined effects of factors such as African swine fever, Chinese New Year, especially the outbreak of New Coronary Pneumonia. Among foods, pork prices rose by 122.5%, which affected CPI to rise by about 2.91 percentage points, accounting for about 60% of the total increase in CPI. In the first two months, due to insufficient live pig production capacity and tight supply during epidemic prevention and control, short-term consumer demand increased and pork prices continued to rise. In January, it rose 8.5% month-on-month and 116.0% year-on-year; in February, it rose 9.3% month-on-month and 135.2% year-on-year. In March, with the gradual recovery of hog production and transportation, the addition of reserve meat increased, pork prices fell at a high level, down 6.9% month-on-month, and the year-on-year increase fell to 116.4%. Driven by rising pork prices, other meat and poultry prices have also risen, with beef, lamb, chicken and duck prices rising between 11.0% and 21.0%. Affected by the epidemic situation and seasonal factors, the price of fresh vegetables rose by 9.0%, an increase of 2.1 percentage points over the same period last year, but the price has dropped in March. Due to the high base in the same period last year, the price of fresh fruit fell by 5.6%. The food supply is sufficient, and the influence of the international market is limited. The price has increased by 0.6% and continues to remain stable.

A

Energy prices have declined. In the first quarter, affected by fluctuations in international crude oil prices, both gasoline and diesel prices fell by 3.6%, both of which were 1.6 percentage points higher than the same period last year. The prices of residential coal and liquefied petroleum gas changed from a rise in the same period last year to a decline of 0.9% and 0.6% respectively.

A

The core CPI is basically stable. In the first quarter, the core CPI after deducting food and energy prices rose by 1.3%, a decrease of 0.6 percentage points from the same period last year and a decrease of 0.1 percentage points from the fourth quarter of last year, which remained at a low level. During the epidemic prevention and control period, the supply and demand of non-essential necessities were suppressed and prices did not change much. In terms of industrial consumer goods, the prices of household sundry goods, clothing, educational supplies and furniture rose by 0.2% -1.6%, while the prices of household appliances and durable consumer goods for entertainment fell by 1.6% and 1.5%, respectively. Service prices rose by 1.1%, a decrease of 1.1 percentage points from the same period last year. In terms of services, the prices of housekeeping services, education services and medical services increased by 2.9%, 2.5% and 2.4% respectively; the number of travelers during the epidemic fell sharply, and the prices of air tickets and hotel accommodation fell by 6.3% and 1.1% respectively.

A

Second, the price in the production field is steadily decreasing

A

PPI is decreasing month by month. In the first quarter, the epidemic had a great impact on industrial production, and the productive demand was weak in stages. The national PPI changed from a rise of 0.2% in the same period last year to a decline of 0.6%, but the decrease was 0.6 percentage points narrower than in the fourth quarter of last year. In terms of months, in January, the PPI was flat month-on-month, up 0.1% year-on-year; in February, the month-on-month and year-on-year were both reduced, down 0.5% month-on-month, and down 0.4% year-on-year; March continued to decline 1.0% month-on-month, and the year-on-year drop rate expanded to 1.5 %. In terms of classification, the prices of means of production have continued to decline year-on-year, and the decline has expanded from 0.4% in January to 2.4% in March, which is the main reason for the PPI’s monthly decline; the prices of living materials have remained relatively stable.

A

Prices of petroleum-related industries fluctuated downward. Affected by factors such as the “price war” superimposed epidemic in major oil-producing countries, the price of international crude oil fluctuated tremendously, driving the price of domestic oil-related industries down. The prices of the oil and gas extraction industry rose 17.5% year-on-year in January, and fell to 0.4% and 21.7% in February and March, with an average decline of 2.2% in the first quarter; the prices of oil, coal and other fuel processing industries rose 4.6% in January, 2 Months and March turned into declines of 0.8% and 10.6%, with an average decline of 2.4% in the first quarter. Downstream chemical fiber manufacturing, chemical raw materials and chemical products manufacturing, as well as rubber and plastic products industry prices have dropped accordingly, with a decline of between 1.2% and 11.0%.

A

Prices of some key industries fell. In the first quarter, due to insufficient productivity of downstream enterprises to resume production, coupled with the suppression of real estate development investment, the supply of steel was relatively sufficient, and the prices of ferrous metal smelting and rolling processing industries fell by 1.4% year-on-year. Among them, the price of rebar fell by 2.8%, and the price of small and medium-sized steel fell by 2.2%. Affected by the lower international non-ferrous metal prices, non-ferrous metal smelting and rolling processing industry prices fell 0.1%, of which zinc smelting, lead smelting and copper smelting prices fell 16.0%, 12.1% and 2.7% respectively. In addition, coal mining and washing industry prices fell 3.9%.

A

Price rises and falls in other industries. During the epidemic prevention and control period, supplies of food and medical protective materials were relatively tight, and prices rose. In the first quarter, the prices of the agricultural and sideline food processing industry rose by 7.1% year-on-year, and the prices of the pharmaceutical manufacturing industry rose by 0.9%. The prices of equipment manufacturing are generally stable. Among them, the price of railway, ship, aerospace and other transportation equipment manufacturing rose 0.7%, the price of general equipment manufacturing rose 0.3%; the price of computer, communications and other electronic equipment manufacturing fell 2.0%, and the price of automobile manufacturing fell 0.6%.

A

(Author: NBS City Secretary)

A

(Original link: http://m.ce.cn/bwzg/202004/19/t20200419_34722132.shtml)

A

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

MIL Translation OSI