Home » Domestic prices are generally stable—interpretation of CPI and PPI data in May_Guangming.com

Domestic prices are generally stable—interpretation of CPI and PPI data in May_Guangming.com

by admin

Xinhua News Agency, Beijing, June 9th Question: Domestic prices are generally stable——interpretation of CPI and PPI data in May

Xinhua News Agency reporters Wei Yukun and Han Jianuo

According to data released by the National Bureau of Statistics on the 9th, in May, consumer demand continued to recover, and the national consumer price index (CPI) rose by 0.2% year-on-year, an increase of 0.1 percentage points from the previous month; the core CPI excluding food and energy prices rose by 0.6% year-on-year. %, domestic prices are generally stable.

In my country’s CPI “basket” of commodities, food accounts for a relatively high proportion. In May, food prices rose by 1% year-on-year, an increase of 0.6 percentage points over the previous month. Among them, the prices of poultry meat, edible oil and fresh fruit rose by 5.6%, 3.6% and 3.4% respectively, and the growth rates all fell back; the price of pork turned from a rise of 4% in the previous month to a fall of 3.2%; It narrowed by 11.8 percentage points last month.

From a month-on-month perspective, affected by seasonal factors, food prices fell by 0.7% in May, and the rate of decline narrowed by 0.3 percentage points from the previous month. Dong Lijuan, chief statistician of the Urban Department of the National Bureau of Statistics, analyzed that in food, due to sufficient market supply, the prices of shrimp and crab, fresh vegetables, pork, eggs and fresh fruits fell by 3.5%, 3.4%, 2%, 1.6% and 0.3% respectively.

See also  Surprise: the gold medals are bad!

Statistics show that in May, non-food prices changed from a year-on-year increase of 0.1% to flat, and from a month-on-month increase of 0.1% to a decrease of 0.1%. Dong Lijuan said that in the non-food category, the demand for travel after the holidays has dropped, and the prices of air tickets and transportation rental fees have both dropped by 7.2% from the previous month; concerts and other performances have increased, and the prices of movie and performance tickets have increased by 0.8% from the previous month; Prices rose 0.4% month-on-month.

From the perspective of industrial producer prices, in May, international bulk commodity prices fell as a whole, and domestic and foreign industrial product market demand was generally weak. In addition, the comparison base for the same period last year was relatively high, and the national industrial producer price index (PPI) fell by 0.9% month-on-month , a decrease of 0.4 percentage points from the previous month; a year-on-year decrease of 4.6%, a decrease of 1 percentage point from the previous month.

Specifically, in May, the price of international crude oil and major non-ferrous metals fell, driving down the prices of related domestic industries. Among them, the price of oil and natural gas mining industry fell by 2.1% month-on-month, and the price of chemical raw materials and chemical products manufacturing industry fell by 2% month-on-month. The supply of coal, steel, cement and other industries is generally sufficient, but the demand is weak, and the prices have all fallen. Among them, the prices of coal mining and washing industries fell by 5.2% month-on-month, and the prices of ferrous metal smelting and rolling processing industries fell by 4.2% month-on-month.

See also  Electric Renault 5, everything you need to know about E-Tech

Since the beginning of this year, domestic prices have been running at a low level. According to a previous report issued by the People’s Bank of China, this is mainly related to the time difference between supply and demand recovery and the base effect.

“Overall, the current low prices are the result of last year’s high base effect, superimposed input, seasonality and other factors. With the weakening of the base effect, various policy measures will increase their efficiency and market demand will further recover. Prices are expected to gradually pick up in the second half of the year,” said Zhang Xuewu, director of the Analysis and Forecast Division of the Price Monitoring Center of the National Development and Reform Commission.

Data from key e-commerce platforms show that consumption has continued to pick up recently and the supply of goods is sufficient. For example, the supply of seasonal fruits such as watermelons, lychees, and peaches on Meituan’s grocery shopping platform is sufficient, and key products are newly added every day.

Service industry companies continue to be optimistic about the recovery and development of the market, and consumption is expected to continue to pick up. In May, the business activity index of the service industry was 53.8%, 6.7 percentage points higher than the same period of the previous year, of which the business activity expectation index was 60.1%, remaining in the high-level boom range, and all the industries surveyed were in the expansion range.

“Due to the relatively limited pull of market demand on prices in the short term, the impact of international imports may continue, and the year-on-year increase in CPI will continue to run at a low level. However, as the policy of expanding domestic demand becomes effective and economic activity increases, employment will gradually improve and consumer confidence will increase. , CPI growth will return to a reasonable level.” Fu Linghui, spokesman of the National Bureau of Statistics, said that the short-term decline in the prices of some industrial products will continue, and the PPI is expected to gradually recover in the second half of the year.

See also  Third laureate The Best Entrepreneur of Limburg: Tekla Vancleynenbreugel (Lento)

[
责编:杨煜 ]

You may also like

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy