China News Service, July 9, according to the National Bureau of Statistics website, the National Bureau of Statistics today released the national CPI (resident consumer price index) and PPI (industrial producer price index) data for June 2020. In this regard, Dong Lijuan, senior statistician of the City Department of the National Bureau of Statistics, explained that the CPI fell slightly in June 2020, and the PPI increased from a decline.
1. The CPI continued to decline month-on-month, and the year-on-year increase slightly expanded
In June, the resumption of production and production and the resumption of business in the city continued to advance, and various departments in various regions seriously implemented the central government's series of policies and measures on guaranteeing supply and stabilizing prices, and the market was generally stable. From a chain perspective, CPI fell by 0.1%. Among them, food prices rose by 0.2%, affecting CPI rose by about 0.04 percentage points. In food, due to factors such as slower slaughter of live pigs, stricter requirements for epidemic prevention deployment and reduced imports, pork supply is tight, while catering and group consumption demand has rebounded. Pork prices have changed from a decline of 8.1% last month to a rise of 3.6%; Floods and waterlogging disasters have occurred in many places in China, and there has been an epidemic outbreak in the new development market in Beijing, which has caused short-term supply of vegetables in some areas. The price of fresh vegetables has dropped from 12.5% last month to a rise of 2.8%. The decline was 6.8 percentage points higher than last month; the supply of eggs was sufficient and the price dropped by 4.1%. Non-food prices changed from flat last month to a decrease of 0.1%, affecting a decrease of CPI of about 0.10 percentage points. Among non-food items, the epidemic continued to affect travel, with air ticket and travel prices falling by 6.1% and 1.8% respectively; summer clothing began to offer discounts, and clothing prices changed from a 0.2% increase last month to a 0.2% decrease.
From a year-on-year perspective, CPI rose by 2.5%, an increase of 0.1 percentage points from the previous month. Among them, food prices rose by 11.1%, an increase of 0.5 percentage points, affecting the CPI rose by about 2.24 percentage points. Among foods, pork prices increased by 81.6%, beef and lamb prices increased by 18.5% and 10.9% respectively, and the changes were little changed compared with last month; aquatic product prices increased by 4.8%, and the increase increased by 1.1 percentage points; fresh vegetable prices increased by 4.2 %, a decrease of 8.5% last month; the price of fresh fruit and eggs fell by 29.0% and 15.8%, respectively, and the decline increased by 9.7 and 1.3 percentage points, respectively. Non-food prices rose by 0.3%, a decrease of 0.1 percentage points from the previous month, affecting the increase of CPI by approximately 0.24 percentage points. Among non-food items, the prices of education, culture, entertainment, and healthcare increased by 1.9%, and the prices of transportation and communications fell by 4.6%. Among them, the prices of gasoline and diesel dropped by 19.4% and 21.2%, respectively.
The core CPI after deducting food and energy prices rose by 0.9% year-on-year, a decrease of 0.2 percentage points from the previous month. According to estimates, of the 2.5% year-on-year increase in June, the tailing effect of price changes last year was about 3.3 percentage points, and the effect of new price increases was about -0.8 percentage points. In the first half of the year, the CPI rose by 3.8% over the same period last year.
2. The PPI turned from a decline to a rise, and the year-on-year decline narrowed
In June, the prices of international commodities recovered, the domestic manufacturing industry recovered steadily, and market demand continued to improve. From a quarter-on-quarter perspective, PPI changed from a decrease of 0.4% last month to a rise of 0.4%. Among them, the price of means of production changed from a decrease of 0.5% to a rise of 0.5%, and the price of means of living changed from a decrease of 0.3% to a rise of 0.1%. Judging from the surveyed 40 major industrial sectors, there were 22 price increases, an increase of 12 from the previous month; 12 declines, a decrease of 8; 6 flats, a decrease of 4. Affected by the substantial increase in international crude oil prices, the prices of products in the petroleum-related industries stopped falling and rose. Among them, the prices of the oil and gas extraction industry rose by 38.2%, the prices of the oil, coal and other fuel processing industries rose by 1.7%, and the manufacturing of chemical raw materials and chemical products The price rose by 0.4%. The prices of ferrous metal smelting and rolling processing industries increased from flat to 1.9%. Non-ferrous metal smelting and rolling processing industry prices rose 1.9%, an increase of 0.3 percentage points from the previous month. The total impact of the above five industries on PPI rose by about 0.42 percentage points. In addition, the prices of coal mining and washing industry decreased by 0.7%, the decline narrowed by 2.2 percentage points.
From a year-on-year perspective, PPI fell by 3.0%, a decrease of 0.7 percentage points from the previous month. Among them, the price of means of production fell by 4.2%, the rate of decrease narrowed by 0.9 percentage points; the price of means of living rose by 0.6%, an increase of 0.1 percentage points. Price declines in major industries have narrowed. Among them, the prices of the oil and gas extraction industry fell by 39.1%, narrowing by 18.5 percentage points; the prices of oil, coal and other fuel processing industries fell by 21.6%, narrowing by 2.8 percentage points; the prices of chemical raw materials and chemical products manufacturing industries fell by 7.9%, closing 1.3% narrower; ferrous metal smelting and rolling processing industry prices fell 5.1%, narrowing 2.9 percentage points; non-ferrous metal smelting and rolling processing industry prices fell 2.2%, narrowing 2.2 percentage points. In addition, the prices of coal mining and washing industry decreased by 9.3%, and the decline increased by 0.5 percentage points.
According to estimates, in the 3.0% year-on-year drop in June, the tailing effect of price changes last year was about -0.2 percentage points, and the effect of new price increases was about -2.8 percentage points. In the first half of the year, PPI fell by 1.9% compared with the same period last year.