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

The month-on-month increase of CPI and PPI in September 2020 continues to fall

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——Dong Lijuan, senior statistician of the City Department of the National Bureau of Statistics, interprets the CPI and PPI data for September 2020

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   The National Bureau of Statistics released today the national CPI (Consumer Price Index) and PPI (Ex-factory Price Index of Industrial Producers) data for September 2020. In this regard, Dong Lijuan, senior statistician of the City Department of the National Bureau of Statistics, explained.

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   1. Both the month-on-month and year-on-year growth rates of CPI continued to fall

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   In September, all localities actively implemented the “six stability” and “six guarantees” policies and normalized epidemic prevention and control measures, and the market supply and demand situation was generally stable. From a month-on-month perspective, the CPI rose by 0.2%, a drop of 0.2% from the previous month. Among them, food prices rose by 0.4%, a drop of 1.0 percentage point from the previous month, affecting the CPI’s rise by about 0.09 percentage points. In food, due to the superimposed influence of seasons and festivals, the price of fresh fruits has changed from a 0.4% drop last month to an increase of 7.3%; affected by seasonal factors and rainfall in some areas, the price of fresh vegetables continued to rise by 2.4%, a decrease of 4.0% from the previous month Percentage points; With the continuous recovery of live pig production, the continuous improvement of stocks, the increase of reserve pork supply, and the increase of pork supply, the price has changed from a 1.2% increase last month to a decrease of 1.6%. Non-food prices rose by 0.2%, an increase of 0.1 percentage points from the previous month, affecting the CPI’s rise by about 0.14 percentage points. Among non-food items, with the gradual recovery of entertainment consumption, the number of movie viewers increased, and the price of movie tickets increased by 4.1%; the new semester began, the fees of extracurricular education and some private schools increased, and the price of education services rose 1.6%; The price of clothing rose by 0.9%.

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   From a year-on-year perspective, the CPI rose by 1.7%, a decrease of 0.7 percentage points from the previous month. Among them, food prices rose by 7.9%, a decrease of 3.3 percentage points from the previous month, affecting the CPI’s rise by about 1.69 percentage points. In food, the price of pork rose by 25.5%, a sharp drop of 27.1 percentage points from the previous month; the price of fresh vegetables rose by 17.2%, an increase of 5.5 percentage points; the prices of beef and mutton rose by 9.0% and 5.4%, respectively, and the increase fell by 5.4 and 4.3 respectively. The price of fresh fruit fell by 6.9%, and the rate of decline narrowed by 12.9%; the prices of eggs, chicken, and duck fell by 17.7%, 9.1%, and 4.7%, respectively, and the rates of decline expanded by 5.3, 7.5, and 3.8 percentage points, respectively. Non-food prices have turned unchanged from a 0.1% increase last month. Among non-food items, the price of health care rose by 1.5%, the price of education, culture, and entertainment rose by 0.7%, and the price of transportation and communications fell by 3.6%. The prices of gasoline and diesel fell by 15.0% and 16.6%, respectively. The core CPI, excluding food and energy prices, rose 0.5% year-on-year, the same rate as the previous month.

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  According to estimates, of the 1.7% year-on-year increase in September, the carry-over impact of last year’s price changes was about 1.2 percentage points, and the impact of the new price increase was about 0.5 percentage points.

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   2. PPI’s month-on-month increase continued to fall, and the year-on-year decline increased slightly

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   In September, domestic industrial production and demand recovered steadily, and industrial product prices continued to rise. From a month-on-month perspective, the PPI rose by 0.1%, a decrease of 0.2 percentage points from the previous month. Among them, the price of means of production rose by 0.2%, and the rate of increase fell by 0.2%; the price of means of subsistence changed from rising to falling, falling by 0.1%. Looking at the 40 industrial sectors surveyed, 15 saw price increases, a decrease of 2 from the previous month; 19 declines, an increase of 1; and 6 industries that remained unchanged, an increase of 1. Affected by changes in international crude oil prices, prices in petroleum-related industries have turned from rising to falling. Among them, the prices of petroleum and natural gas extraction industries fell by 2.3%, and the prices of petroleum, coal and other fuel processing industries fell by 0.5%. Among other major industries, the price growth of ferrous metal smelting and rolling processing industry, which rose by 1.3%, fell by 0.2%; the non-ferrous metal smelting and rolling processing industry, which rose by 0.7%, fell by 2.3%; the agricultural and sideline food processing industry, Increased by 0.2%, down 0.4%. In addition, the prices of non-metallic mineral products, coal mining and washing industries all turned from falling to rising, rising by 0.4% and 0.3% respectively; the prices of computer, communications and other electronic equipment manufacturing industries fell by 0.7%, an increase of 0.3% from the previous month. percentage point.

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   From a year-on-year perspective, PPI fell by 2.1%, an increase of 0.1 percentage point from the previous month. Among them, the price of means of production fell by 2.8%, and the rate of decline narrowed by 0.2 percentage points; the price of means of subsistence changed from an increase to a decline, down 0.1%. Among the major industries, the agricultural and sideline food processing industry saw a decline in price growth, which rose by 3.9%, a drop of 1.6 percentage points; and the non-ferrous metal smelting and rolling processing industry, which rose by 2.9%, fell by 0.5 percentage point. The coal mining and washing industries, which fell by 7.5%, narrowed by 0.5 percentage point, and the non-metallic mineral products industry, fell by 2.3%, and narrowed by 0.2 percentage point. The oil and natural gas mining industry, which decreased by 26.2%, increased by 1.0 percentage point; the oil, coal and other fuel processing industries, decreased by 16.9%, and increased by 0.2 percentage point. In addition, the prices of ferrous metal smelting and rolling processing industries have been flat from a decline last month.

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  According to estimates, in the 2.1% year-on-year decline in September, the carryover effect of last year’s price changes was 0, and the impact of new price increases was about -2.1 percentage points.

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

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