National Bureau of Statistics: September CPI rose 0.7% year-on-year, and remained unchanged from the previous month. PPI rose 10.7% year-on-year
CCB News from Beijing, October 14(Reporter Yu Qi) The National Bureau of Statistics released the national CPI (Consumer Price Index) and PPI (Ex-factory Price Index of Industrial Producers) data for September 2021. Data show that in September 2021, the national consumer prices rose by 0.7% year-on-year, which was unchanged from the previous month, and the national factory prices for industrial producers rose by 10.7% year-on-year and 1.2% month-on-month.
1. The CPI was flat month-on-month, but the year-on-year growth rate dropped slightly
In September, supply and demand in the consumer market were basically stable, and prices were generally stable.
From a month-on-month perspective, the CPI went flat from a 0.1% increase in the previous month. Among them, the price of food changed from a 0.8% increase last month to a decrease of 0.7%, which affected the CPI drop by about 0.12 percentage points. In food, pork and aquatic products were in sufficient supply, and prices fell by 5.1% and 2.5%, respectively, and the rate of decline was larger than that of the previous month. Non-food prices changed from a 0.1% decline last month to an increase of 0.2%, which affected the CPI increase by about 0.16 percentage points. Among non-food products, the prices of industrial consumer goods rose 0.3% from a 0.2% drop last month. Among them, affected by factors such as rising prices of raw materials, the prices of cement, liquefied petroleum gas, and cars all rose by 0.6% to 7.6%; new winter clothing products were launched, and clothing prices rose by 0.8%. Service prices changed from flat last month to an increase of 0.1%. Among them, the fees of some schools at the beginning of the new semester have been raised, and the price of education services has increased by 1.7%; the end of the summer vacation is superimposed by the scattered epidemic, and the prices of air tickets, travel agency fees and hotel accommodation have fallen by 9.9%, 3.3% and 2.2% respectively.
From a year-on-year perspective, the CPI rose by 0.7%, a decrease of 0.1 percentage point from the previous month. Among them, food prices fell by 5.2%, an increase of 1.1 percentage points from the previous month, affecting the CPI drop by about 0.98 percentage points. In food, the price of pork fell by 46.9%, an increase of 2.0 percentage points; the prices of freshwater fish, eggs and edible vegetable oil rose by 21.0%, 14.2% and 9.2%, respectively, all of which fell back. Non-food prices rose by 2.0%, an increase of 0.1 percentage point, affecting the CPI increase by about 1.65 percentage points. Among non-food, the price of industrial consumer goods rose by 2.8%, an increase of 0.3%, of which the prices of gasoline and diesel rose by 23.4% and 25.7%, respectively, both of which increased; the price of services rose by 1.4%, and the increase fell by 0.1%, of which air tickets , Travel agency charges and hotel accommodation prices rose by 15.7%, 8.7% and 1.2%, respectively, and the growth rates have all declined.
Dong Lijuan, a senior statistician at the City Department of the National Bureau of Statistics, said that according to estimates, of the 0.7% year-on-year increase in CPI in September, the carry-over impact of last year’s price changes was about 0, 0.2 percentage points lower than the previous month; the impact of the new price increase was approximately 0.7 percentage point, an increase of 0.1 percentage point from the previous month. The core CPI, excluding food and energy prices, rose 1.2% year-on-year, the same rate as last month.
2. PPI growth continues to expand
In September, affected by factors such as rising prices of coal and some energy-intensive industries, the price increase of industrial products continued to expand.
From a month-on-month perspective, PPI rose by 1.2%, an increase of 0.5 percentage points from the previous month. Among them, the price of means of production rose by 1.5%, an increase of 0.6%; the price of means of living remained flat. Affected by strong demand and continuous tight supply, the price of coal processing industry rose by 18.9%, and the price of coal mining and washing industry rose by 12.1%, which in total affected the PPI increase by about 0.50 percentage points. Some energy-intensive industries have limited production and prices have risen more. Among them, the price of non-ferrous metal smelting and rolling processing industry increased by 2.9%, the price of non-metallic mineral products such as cement increased by 2.9%, and the price of chemical raw materials and chemical products manufacturing increased by 2.0%. , The price of ferrous metal smelting and rolling processing industry rose by 1.8%, which affected the PPI increase by about 0.57 percentage points in total. In addition, factors such as the increase in the price of imported natural gas drove the price of domestic gas production and supply industries to rise by 2.5%, and the decline in international iron ore prices drove the price of domestic ferrous metal mining and processing industries to drop by 8.7%.
From a year-on-year perspective, PPI rose by 10.7%, an increase of 1.2 percentage points from the previous month. Among them, the price of means of production rose by 14.2%, an increase of 1.5%; the price of means of living rose by 0.4%, an increase of 0.1%. Among the 40 industrial sectors surveyed, 36 saw price increases, an increase of 4 over the previous month. The price increase of major industries has expanded. Among them, the price of coal mining and washing industry increased by 74.9%, an increase of 17.8 percentage points from the previous month; the price of oil and natural gas extraction industry increased by 43.6%, an increase of 2.3 percentage points; petroleum, coal and others The price of fuel processing industry increased by 40.5%, an increase of 5.2%; the price of ferrous metal smelting and rolling processing industry increased by 34.9%, an increase of 0.8%; the price of chemical raw materials and chemical products manufacturing increased by 25.5%, an increase of 1.5%; non-ferrous metal smelting The price of rolling processing industry rose by 24.6%, an increase of 2.8 percentage points. The above-mentioned six industries together affected the increase of PPI by approximately 8.42 percentage points, accounting for approximately 80% of the total increase.
Dong Lijuan pointed out that according to estimates, of the 10.7% year-on-year increase in PPI in September, the carry-over impact of last year’s price changes was about 1.8 percentage points, the same as last month; the impact of the new price increase was about 8.9 percentage points, an increase of 1.2 from the previous month. Percentage points.
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