National Bureau of Statistics: CPI and PPI Data for April Shows Recovery in Consumption Demand
On May 11th, the National Bureau of Statistics released the national CPI (Consumer Price Index) and PPI (Producer Price Index) data for April, showcasing a positive trend in residents’ consumption demand.
The data revealed that in April, residents’ consumption demand continued to recover, leading to a turnaround in the national CPI from falling to rising month-on-month. The year-on-year increase also expanded, indicating a positive shift in the economy.
The core CPI, which excludes food and energy prices, saw a 0.2% month-on-month increase, down from 0.6% in the previous month. On a year-on-year basis, it rose by 0.7%, marking a 0.1 percentage point increase from the previous month.
Looking at the month-on-month perspective, the CPI increased by 0.1% compared to a 1.0% decrease in the previous month. Food prices fell by 1.0%, with the decline narrowing by 2.2 percentage points from the previous month. Non-food items such as air tickets, transportation rental fees, hotel accommodation, and tourism prices all saw increases due to the rise in travel during holidays, contributing to the overall increase in CPI.
On a year-on-year basis, the CPI saw a 0.3% increase, up by 0.2 percentage points from the previous month. Food prices fell by 2.7%, the same as the previous month, while energy prices increased by 3.6%, and industrial consumer goods prices excluding energy rose by 0.4%.
The data suggests a positive trend in consumption demand and economic recovery. However, authorities are closely monitoring the situation to ensure sustainable growth and stability in the economy.
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