China News Service, April 10, according to the website of the National Bureau of Statistics, the National Bureau of Statistics today released the national CPI (Consumer Price Index) and PPI (Industrial Producer Price Index) data for March 2020. In this regard, Dong Lijuan, senior statistician of the City Department of the National Bureau of Statistics, explained that the increase in CPI fell in March 2020, and the decrease in PPI has expanded.
CPI turned from rising to falling, and the year-on-year increase fell
In March, the resumption of production and production gradually accelerated, transportation and logistics gradually recovered, and measures to maintain supply and stabilize prices continued to increase. From a chain perspective, CPI changed from a rise of 0.8% last month to a decline of 1.2%. Among them, food prices changed from a rise of 4.3% last month to a drop of 3.8%, which affected the decline of CPI by about 0.90 percentage points, which is the main factor driving CPI to change from rising to falling. In food, the supply of grain and oil is stable, the price of grain is flat, and the price of edible oil is down by 0.1%; the market volume of vegetables in spring increases, the cost of logistics and transportation drops, and the price of fresh vegetables drops by 12.2%; Various regions have increased their efforts to put in reserve meat, and pork prices have fallen by 6.9%. Due to sufficient market supply, the prices of eggs, aquatic products and fresh fruit have decreased by 5.1%, 3.5% and 0.2%, respectively. Non-food prices fell by 0.4%, an increase of 0.2 percentage points from the previous month, affecting a decrease of about 0.32 percentage points in CPI. Among non-food items, affected by fluctuations in international crude oil prices, the prices of gasoline, diesel, and liquefied petroleum gas decreased by 9.7%, 10.5%, and 4.3%, respectively; travel during the epidemic fell significantly, and the price of air tickets dropped by 28.5%.
From a year-on-year perspective, CPI rose by 4.3%, a decrease of 0.9 percentage points from the previous month. Among them, food prices rose by 18.3%, the rate of increase fell by 3.6 percentage points, affecting the CPI rose by about 3.70 percentage points. Among foods, pork prices rose by 116.4%, a decrease of 18.8 percentage points; beef, lamb, chicken, and duck prices increased by 10.7% to 21.7%; fresh vegetable prices changed from a rise of last month to a decrease of 0.1%; fresh fruit prices fell 6.1%, an increase of 0.5 percentage points. Non-food prices rose by 0.7%, and the rate of increase fell by 0.2 percentage points, affecting the increase of CPI by about 0.57 percentage points. Among non-food items, the prices of education, culture, entertainment, and healthcare increased by 2.5% and 2.2%, respectively, and the prices of transportation and communications fell by 3.8%. In terms of urban and rural areas, the increase in rural CPI is higher than that in cities. The main reason is that rural residents have a relatively large proportion of food prices with higher price increases in consumer spending. In March, the core CPI excluding food and energy prices rose by 1.2% year-on-year, an increase of 0.2 percentage points from the previous month. According to estimates, in the 4.3% year-on-year increase, the tailing effect of price changes last year was about 3.3 percentage points, and the impact of new price increases was about 1.0 percentage point. On average from January to March, the CPI rose by 4.9% over the same period last year.
PPI month-on-month and year-on-year declines have expanded
From a quarter-on-quarter perspective, PPI decreased by 1.0%, and the decrease was 0.5 percentage points higher than last month. Among them, the prices of means of production fell by 1.2%, and the decline increased by 0.5 percentage points; the prices of means of living decreased from flat to 0.2%. Judging from the 40 major industrial categories surveyed, there were 10 price increases, 28 declines and 2 flat prices. Affected by factors such as the downward price of international commodities, prices of crude oil, steel and non-ferrous metals industries have decreased. Among them, the oil and gas extraction industry decreased by 17.0%, an increase of 6.0 percentage points; the petroleum, coal and other fuel processing industry decreased by 7.8%, an expansion of 3.4 percentage points; the non-ferrous metal smelting and rolling processing industry decreased by 3.5%, an expansion of 2.0 percentage points; black The metal smelting and rolling processing industry declined by 1.9% and expanded by 0.5%. The total impact of the above four industries on PPI fell by about 0.67 percentage points. The price of agricultural and sideline food processing industry changed from rising to falling, and fell by 0.5%. The price of coal mining and washing industry increased from flat to 0.3%.
From a year-on-year perspective, PPI fell by 1.5%, an increase of 1.1 percentage points from the previous month. Among them, the prices of means of production fell by 2.4%, an increase of 1.4 percentage points; the prices of means of living rose by 1.2%, an increase of 0.2 percentage points. Among the major industries, oil and natural gas extraction increased by 21.7%, an increase of 21.3 percentage points; oil, coal and other fuel processing industries decreased by 10.6%, an increase of 9.8 percentage points; Decreased by 5.3%, expanded by 1.0 percentage points; ferrous metal smelting and rolling processing industry, decreased by 3.9%, expanded by 3.0 percentage points. The price of coal mining and washing industry decreased by 3.6%, and the decrease narrowed by 0.4 percentage points. The prices of non-ferrous metal smelting and rolling processing industries have shifted from rising to falling, falling by 3.5%. According to estimates, in the 1.5% year-on-year decline in March, the tailing effect of price changes last year was about 0, and the effect of new price increases was about -1.5 percentage points. From January to March, the average PPI fell by 0.6% over the same period last year.