China News Service, March 10th. According to the website of the National Bureau of Statistics, the National Bureau of Statistics announced the CPI and PPI data for February 2020 today. Zhao Maohong, director of the Urban Department of the National Bureau of Statistics, said that in February, prices were generally stable, showing a structural change trend of rising and falling. CPI continued to rise but the growth rate declined, of which food prices rose more; PPI stabilized slightly. There is a decline.
Data Map: Citizens are buying fruits. China News Agency reporter Liu Xinshe
Consumer prices continue to rise
The CPI is still at a high level, and the growth rate has somewhat declined. In February, the national CPI rose by 0.8% month-on-month, a decrease of 0.6 percentage point from the previous month; an increase of 5.2% year-on-year, and a decrease of 0.2 percentage point. According to estimates, in the 5.2% year-on-year increase in February, the impact of price changes last year was about 2.9 percentage points, and the impact of new price increases this year was about 2.3 percentage points. The impact of the new price increase is relatively high, reaching more than 40%. On average from January to February, the CPI increased by 5.3% over the same period last year, and the increase rate increased by 3.7 percentage points over the same period last year.
Food prices have risen more. In February, food prices rose 4.3% month-on-month, a drop of 0.1 percentage point from the previous month, affecting a CPI increase of approximately 0.98 percentage points; a year-on-year increase of 21.9%, an increase of 1.3 percentage points, and an impact of a CPI increase of approximately 4.45 percentage points. In food, the price of fresh food continues to be high. Potato prices rose 16.0% month-on-month, an increase of 8.3 percentage points; pork prices rose 9.3% month-on-month, or 0.8 percentage points; the prices of fresh vegetables, fresh fruits, and aquatic products rose 9.5%, 4.8%, and 3.0%, respectively. 5.8, 0.7 and 1.5 percentage points. The main reason for the increase in food prices is from the supply side. It is mainly due to the implementation of transportation control measures to varying degrees in various places, and logistics in some areas are not smooth. The market was postponed and the market started to be delayed. The production and supply of some products were affected and it was difficult to meet the market needs in a timely manner. From the perspective of demand, affected by factors such as "home" requirements and "risk-avoidance" psychology, some residents are hoarding, and some areas have snapped up instant noodles, meat products and quick-frozen foods, and even spread to other foods. To boost prices. In February, the supply of eggs was plentiful, and the price dropped by 6.9% month-on-month, and the decline was expanded by 3.2 percentage points from the previous month. On average from January to February, food prices rose 21.3% year-on-year, an increase of 20.0 percentage points over the same period last year.
Prices of non-necessities are basically stable. In February, due to the epidemic prevention and control, some commercial and service outlets ceased to operate, and consumer demand for some non-necessities was also suppressed. Both supply and demand contracted, prices were basically stable, and the prices of some projects even fell. The prices of industrial consumer goods rose from a 0.1% month-on-month drop to a 0.4% drop; the year-on-year rise was 0.3%, a decrease of 0.6 percentage points from the previous month. Among them, energy prices dropped, gasoline and diesel prices fell 5.7% and 6.2% month-on-month, and residential coal and liquefied petroleum gas prices fell 1.0% and 0.4% month-on-month; the launch of spring clothing was delayed, and clothing prices fell 0.3% month-on-month. The price of services rose from a 1.0% month-on-month increase to a 0.2% decrease; it rose by 0.6% year-on-year, and the growth rate dropped by 0.9 percentage points. Among them, the price of medical services rose slightly by 0.1% month-on-month, and the prices of air tickets, haircuts and hotel accommodation fell by 7.8%, 2.5%, and 1.0% respectively.
Excluding food and energy prices, the core CPI increased by 0.5% from the previous month to a decrease of 0.1%; it rose by 1.0% year-on-year, a decrease of 0.5 percentage points from the previous month.
Prices in the production sector fell slightly while maintaining stability
PPI declined slightly. In February, due to seasonal and epidemic factors, some industrial companies stopped production and demand weakened. The national PPI was flat from last month to a decline of 0.5%, and a year-on-year increase from 0.1% to 0.4%. According to estimates, in the 0.4% year-on-year decrease in February, the impact of price changes last year was about 0.1 percentage point, and the effect of new price increases was about -0.5 percentage point. On average from January to February, PPI decreased by 0.2% compared with the same period last year.
Prices of petroleum-related industries fluctuated significantly. In February, the international crude oil market was severely impacted, and prices fell sharply, affecting the domestic oil and related industries. Among them, the price of oil and gas extraction industry rose from 4.3% last month to a decrease of 11.0%, the price of oil, coal and other fuel processing industry rose from 1.8% to 4.4%, downstream chemical raw materials and chemical manufacturing, chemical fiber Prices in the manufacturing, rubber and plastic products industries have all fallen to varying degrees. On a year-on-year basis, the prices of the above-mentioned industries have also decreased, ranging from 0.4% to 10.7%. The total impact on the PPI decline is about 0.44 percentage points, which is the main reason for the PPI's year-on-year change.
The prices of coal, steel and non-ferrous metals fell steadily. In February, the supply and demand of coal was basically balanced, and the price fell from a 0.6% month-on-month to a flat month. Affected by the increase in steel stocks, the prices of ferrous metal smelting and rolling processing industry fell by 1.4% month-on-month, and the decline was expanded by 0.8 percentage points from last month. The impact of copper prices continued to fall, the price of copper smelting fell 3.6%, driving the price of non-ferrous metal smelting and rolling processing industry rose from 0.6% last month to 1.5%.
Pharmaceutical manufacturing prices rose slightly. After the epidemic, medical protective material production enterprises actively resumed production and resumed production to ensure supply, but affected by factors such as rising raw material prices and rising logistics costs, the price of pharmaceutical manufacturing in February rose 0.3% month-on-month. Among them, the price of disinfection products increased by 14.8%, and the price of sanitary materials increased by 1.5%.