China News Service, Beijing, September 9 (Reporter Wang Enbo) The National Bureau of Statistics of China announced on the 9th that in August, China's consumer price index (CPI) rose 2.4% year-on-year, a 0.3% decrease from the previous month.
Among them, the increase in pork prices fell sharply by more than 30 percentage points from the previous month.
From a structural point of view, food prices rose 11.2% year-on-year in the month, and the growth rate fell 2.0 percentage points from the previous month, affecting the CPI increase by approximately 2.33 percentage points; non-food prices changed from the same last month to an increase of 0.1%, affecting the CPI increase by approximately 0.04 percentage points .
According to Dong Lijuan, a senior statistician at the City Department of the National Bureau of Statistics, in food, pork prices rose by 52.6% due to the comparison base last year, a sharp drop of 33.1 percentage points from the previous month; beef and mutton prices rose by 14.4% and 9.7%, respectively, with both increases There has been a fall; the prices of chicken and duck meat fell by 1.6% and 0.9% respectively, the first drop in the past three years.
In August, the core CPI, excluding food and energy prices, rose 0.5% year-on-year, the same rate as the previous month.
According to estimates, of the 2.4% year-on-year increase in the month, the carryover impact of last year's price changes was approximately 2.1 percentage points, and the impact of the new price increase was approximately 0.3 percentage points.
From a month-on-month perspective, China’s CPI rose by 0.4% in August, a drop of 0.2 percentage points from the previous month.
Among them, food prices rose by 1.4%, a drop of 1.4 percentage points from the previous month, affecting the CPI's rise by about 0.31 percentage points.
In food, due to the low stock of laying hens, the low egg production rate in summer, and the approaching school and Mid-Autumn Festival, demand has increased significantly. Egg prices rose by 11.3%, an increase of 7.3 percentage points from the previous month; pork supply has improved However, the demand continued to increase, and the price still rose by 1.2%, a decline of 9.1%. Affected by factors such as rising feed costs, demand recovery and rising pork prices, the prices of beef, mutton, chicken and duck all rose to varying degrees.
In the same month, non-food prices rose from the same month-on-month basis to an increase of 0.1%, marking the first increase since February this year, affecting the CPI increase by approximately 0.09 percentage points.
Among non-food items, summer travel increased, and the prices of air tickets and hotel accommodation rose by 7.3% and 2.1%, respectively. Affected by fluctuations in international crude oil prices, gasoline and diesel prices rose by 0.9% and 1.0%, respectively.
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