China News Service, August 10th. 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 (Ex-factory Price Index of Industrial Producers) data for July 2020. In this regard, Dong Lijuan, senior statistician of the City Department of the National Bureau of Statistics, explained that the year-on-year increase in CPI in July 2020 increased slightly, and the year-on-year decrease in PPI continued to narrow.
Data map: Consumers buy pork in supermarkets. Photo by China News Agency reporter Jiang Qiming
The CPI has changed from a decline to an increase, and the year-on-year increase has increased slightly
In July, all regions and departments coordinated efforts for epidemic prevention and control, emergency rescue and disaster relief, and economic and social development, and actively implemented the policy of ensuring supply and stabilizing prices, and the overall market operation was orderly. From a month-on-month perspective, the CPI went from a decline of 0.1% last month to an increase of 0.6%. Among them, food prices rose by 2.8%, an increase of 2.6 percentage points from the previous month, affecting the CPI increase by about 0.62 percentage points. In food, with the gradual recovery of catering services, the demand for pork consumption continues to increase, and floods in many places have a certain impact on the transportation of live pigs. The supply is still tight. The price of pork rose by 10.3%, an increase of 6.7 percentage points from the previous month; Affected by the adverse weather, the price of fresh vegetables increased by 6.3%, an increase of 3.5%; due to the decrease in the stock of laying hens, the egg production rate in summer dropped. The price of eggs rose after 9 consecutive months of decline and increased by 4.0%; a large number of fresh fruits When it went public, the price continued to fall by 4.4%, which was 3.2 percentage points lower than the previous month. Non-food prices fell 0.1% last month to flat. Among non-food products, gasoline and diesel prices rose by 2.5% and 2.7% respectively due to fluctuations in international crude oil prices; summer trips increased, air tickets and hotel accommodation prices rose by 2.9% and 1.7% respectively; summer clothing discounts increased, and clothing prices fell 0.5%.
From a year-on-year perspective, CPI rose by 2.7%, an increase of 0.2 percentage points from the previous month. Among them, food prices rose by 13.2%, an increase of 2.1 percentage points, affecting the increase in CPI by about 2.68 percentage points. In food, the price of pork increased by 85.7%, an increase of 4.1 percentage points from the previous month; the price of fresh vegetables increased by 7.9%, an increase of 3.7 percentage points; the price of aquatic products rose by 4.7%, a decrease of 0.1 percentage point; the price of eggs fell 16.6%, The rate of decline expanded by 0.8 percentage points; the price of fresh fruits fell by 27.7%, and the rate of decline narrowed by 1.3 percentage points. Non-food prices have turned unchanged from a 0.3% increase last month. Among non-food items, the price of health care rose by 1.6%, and the price of transportation and communications fell by 4.4%, of which gasoline and diesel prices fell by 15.7% and 17.5%, respectively.
The core CPI, excluding food and energy prices, rose 0.5% year-on-year, and the increase was 0.4 percentage points lower than the previous month. According to estimates, of the 2.7% year-on-year increase in July, the carryover impact of last year's price changes was about 2.9 percentage points, and the impact of the new price increase was about -0.2 percentage points.
PPI increased steadily month-on-month, and decreased year-on-year
In July, industrial production continued to rebound, market demand gradually recovered, and international bulk commodity prices continued to rise. From a month-on-month perspective, PPI rose by 0.4%, the same rate as last month. Among them, the price of means of production rose by 0.5%, and the price of means of subsistence rose by 0.1%, both at the same rate as last month. Looking at the 40 industrial sectors surveyed, 21 saw price increases, 1 less than last month; 15 dropped, 3 increased, and 4 remained unchanged, 2 decreased. Affected by the continued rebound in international crude oil prices, prices in petroleum-related industries continued to rise. Among them, the prices of petroleum and natural gas extraction industries rose by 12.0%, and the prices of petroleum, coal and other fuel processing industries rose by 3.4%. Among other major industries, the non-ferrous metal smelting and rolling processing industry, whose price increases increased by 3.1%, rose by 1.2%; the agricultural and sideline food processing industry, rose by 1.0%, or 0.6%. Ferrous metal mining and dressing industry, which rose by 2.7%, fell by 0.2 percentage point; the price increase dropped by 1.1%, and fell by 0.8 percentage point; ferrous metal smelting and rolling processing industry, rose by 1.1%. In addition, the prices of coal mining, washing and dressing, and automobile manufacturing all turned from falling to rising, rising 0.6% and 0.1% respectively.
From a year-on-year perspective, PPI fell by 2.4%, and the rate of decline narrowed by 0.6 percentage points from the previous month. Among them, the price of means of production fell by 3.5%, and the rate of decline narrowed by 0.7%; the price of means of living rose by 0.7%, and the rate of increase was expanded by 0.1%. The price decline of major industries has narrowed. Among them, the price of oil and natural gas extraction industry fell by 27.8%, a decrease of 11.3 percentage points; the price of petroleum, coal and other fuel processing industries fell by 17.0%, a decrease of 4.6 percentage points; the prices of chemical raw materials and chemical products manufacturing fell by 7.5%, and closed The price of coal mining and washing industry dropped by 7.4%, a decrease of 1.9%; the price of ferrous metal smelting and rolling processing industry dropped by 4.6%, a decrease of 0.5%. In addition, the price of non-ferrous metal smelting and rolling processing industry turned from falling to rising, rising by 0.7%.
According to estimates, in the 2.4% year-on-year decline in July, the carry-over impact of last year's price changes was about 0, and the impact of new price increases was about -2.4 percentage points.