In july, the consumer price index (cpi) increased by 0. 5 per cent and the ring ratio decreased by 0. 1 per cent; the price index for industrial producers (ppi) increased by 3. 5 per cent and the ring ratio decreased by 0. 7 per cent. On 9 september, the national statistical office published updated price data on how to view the current price dynamics
Statistics show that in july, the cpi year-on-year increase was 0. 5 percentage points lower than last month and below 1 per cent for the first time since february。
“the fall in the cpi ratio was mainly affected by the fall in petrol prices.” the chief statistician of the urban division of the national statistical office, leigh。
The price of gasoline increased by 16 percentage points in july compared to the previous month, and the upward impact on the cpi decreased by about 0. 45 percentage points compared to the previous month, resulting in an increase in energy prices to 0. 6 per cent。
Xu guang jian, vice-president of the china prices association, stated that, despite the fall in the price of gasoline, the cpi had risen 0. 5 per cent in july compared to the same year, offset by a 0. 9 per cent increase in the core cpi for food and energy prices compared to the same year, and generally maintained a moderate upward trend in consumer prices。
In terms of ring comparison, cpi fell by 0. 1 per cent and by 0. 2 percentage points less than last month。
In july, the price volatility of crude oil on the international market affected domestic gasoline prices by 10. 7 per cent, an increase of 5. 8 percentage points over the previous month and a decrease of approximately 0. 35 percentage points in the cpi ring. In addition, the large number of seasonal vegetables and vegetables on the market, the availability of sufficient markets and the 3. 8 per cent drop in fresh fruit prices have affected the cpi ring by about 0. 07 percentage points。
Compared to the previous month, market prices in some sectors of the country changed positively in july, with the ring comparison showing an upward trend。
The recovery in the price of pork — the effect of the integrated regulation of the production capacity of raw pigs has been demonstrated by the fact that the price of pork has been reduced from 0. 8 per cent last month to 4. 1 per cent, affecting an increase in the cpi ring by about 0. 07 percentage points, combined with extreme weather events such as high temperatures and heavy rainfall in some areas。
The demand for consumer electronics is strong — artificial intelligence drives the incremental upgrading of consumer electronics, increases in demand for related products, increases in prices and increases of 11. 3 per cent, 5. 5 per cent and 1. 0 per cent, respectively, for tablet computers, computers and mobile phones, which together affect the increase of the cpi ring by approximately 0. 03 percentage points。
Increase in the price of services - as the demand for summer trips increases, travel agency charges, hotel accommodations, airline tickets and rental of transport are on the rise; in some areas, policy price increases are continuing, with a 1. 1 per cent increase in the cost of medical services, affecting an increase of approximately 0. 07 percentage points in the cpi ring。
“the gradual emergence of the regulatory effect of pig production and the upward support of international food prices, along with the release of new dynamic energy requirements, such as artificial intelligence, and the sustained landing of consumption policies, will support the continued warming and recovery of the cpi. Liu fong, researcher at the national institute for markets and prices of the national development reform commission。
In july, industrial producers, affected by factors such as input and seasonality, declined by 0. 7 per cent from the ppi ring to 3. 5 per cent from the same level, an increase of 0. 6 percentage points from the previous month。
According to tung li, the decline in the ppi ring ratio was 0. 4 percentage points higher than last month, with international input factors affecting lower prices in related sectors such as oil, non-ferrous metals, etc., and seasonal factors, with higher temperatures, rain and typhoon weather in july and slower construction projects resulting in lower prices in part of the industry, as well as increased hydropower and wind generation, with lower prices of 10. 3 per cent and 3. 9 per cent, respectively。
“at the same time, it is important to note that the upgrading of industries and the expansion of consumption are driving demand and price increases in some sectors. New kinetic energy grew, with prices for smart unmanned aerial vehicle manufacture, new carbon materials, ships and related devices increasing by 2. 5 per cent, 0. 4 per cent and 0. 3 per cent, respectively. Quality consumption is growing faster, with prices of smart household consumption equipment and cosmetics manufacturing increasing by 3. 4 per cent and 0. 7 per cent, respectively。
According to liu, our economy is resilient and the supply of human goods is adequate, and the domestic demand potential is expected to be released further in the context of the full effectiveness of stock and incremental policies and the intensification of counter-cyclical adjustment, with the second half of the year's price operation expected to continue the positive trend of moderate increases in cpi and steady increases in ppi。
