China News Service, January 11th. 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 December 2020.
In this regard, Dong Lijuan, a senior statistician in the City Department of the National Bureau of Statistics, explained that the CPI has changed from a decline to an increase year-on-year, and the PPI has expanded month-on-month growth, while the year-on-year decline has narrowed.
The month-on-month and year-on-year CPI both changed from falling to rising
In December, various regions and departments consolidated and expanded the results of epidemic prevention and control and economic and social development, and consumer demand continued to grow. At the same time, affected by special weather and rising costs, the CPI turned from a decline to an increase.
From a month-on-month perspective, the CPI went from a 0.6% decline last month to an increase of 0.7%.
Among them, food prices changed from a 2.4% drop last month to an increase of 2.8%, which affected the CPI increase by about 0.62 percentage points.
In food, due to the continuous low temperature weather, the production, storage and transportation costs of fresh vegetables and fruits have increased, with prices rising by 8.5% and 3.5% respectively. With the arrival of New Year’s Day and the Spring Festival, consumer demand increases seasonally, while the cost of feed has increased. Prices have changed from a 6.5% drop last month to an increase of 6.5%, mutton prices have changed from flat last month to an increase of 2.6%, and egg prices have changed from a 1.6% drop last month to an increase of 2.9%.
Non-food prices changed from a 0.1% decline last month to an increase of 0.1%, affecting the CPI increase by about 0.11 percentage points.
Among non-food products, due to fluctuations in international crude oil prices, the prices of gasoline, diesel and LPG rose by 5.2%, 5.8%, and 3.0%, respectively, affecting the CPI increase by approximately 0.10 percentage points.
From a year-on-year perspective, the CPI went from a 0.5% decline last month to an increase of 0.2%.
Among them, food prices changed from a 2.0% drop last month to an increase of 1.2%, which affected the CPI increase by about 0.26 percentage points.
In food, the price of fresh vegetables increased by 6.5%, a decrease of 2.1 percentage points from the previous month; the price of fresh fruits increased by 6.5%, an increase of 2.9 percentage points; the prices of beef and lamb both increased by 4.6%, both of which increased; the price of pork fell by 1.3% , The rate of decline narrowed by 11.2 percentage points; the prices of eggs, chicken, and duck fell by 11.9%, 13.5%, and 9.2%, respectively, and the rates of decline all narrowed.
Non-food prices fell from 0.1% last month to flat.
Among non-food products, the price of transportation and communication dropped by 3.1%, of which the prices of gasoline and diesel dropped by 14.8% and 16.2% respectively; the price of medical care rose by 1.3%; the price of education, culture and entertainment rose by 0.9%.
The core CPI, excluding food and energy prices, rose 0.4% year-on-year, and the increase was 0.1 percentage point lower than the previous month.
PPI's month-on-month increase has expanded, while year-on-year decline has narrowed
In December, the steady recovery of domestic demand, coupled with the continued rise in the prices of some international bulk commodities, led the prices of industrial products to continue to rise.
From a month-on-month perspective, PPI rose by 1.1%, an increase of 0.6 percentage points from the previous month.
Among them, the price of means of production rose by 1.4%, an increase of 0.7 percentage points; the price of means of living rose by 0.1%, the same as the previous month.
Among the major industries, the prices of petroleum and natural gas extraction industries rose by 7.9%, the prices of petroleum, coal and other fuel processing industries rose by 5.3%, and the prices of chemical raw materials and chemical products manufacturing industries rose by 2.3% due to factors such as rising international crude oil prices. It has expanded and affected the PPI increase by about 0.37 percentage points in total.
As domestic market demand continues to pick up, and the prices of international bulk commodities such as iron ore and non-ferrous metals have risen sharply, prices in metal-related industries have continued to rise. Among them, the price of non-ferrous metal smelting and rolling processing industry increased by 3.9%, and ferrous metal smelting and rolling processing industry The price rose by 3.3%, and the increase was expanded by 2.8 and 1.8 percentage points respectively, which affected the PPI increase by about 0.37 percentage points in total.
As the temperature at the end of the year was lower than normal, the demand for heating increased rapidly, which drove the price of gas production and supply industries to rise by 4.1%, and the price of coal mining and washing industries rose by 3.5%, each expanding 1.3 percentage points.
The price of agricultural and sideline food processing industry rose by 1.0%, an increase of 0.2%.
From a year-on-year perspective, PPI fell by 0.4%, and the rate of decline narrowed by 1.1 percentage points from the previous month.
Among them, the price of means of production fell by 0.5%, and the rate of decline narrowed by 1.3 percentage points; the price of means of subsistence fell by 0.4%, and the rate of decline narrowed by 0.4 percentage points.
Among the major industries, the non-ferrous metal smelting and rolling processing industry, whose price increases increased by 8.3%, increased by 4.2%; the ferrous metal smelting and rolling processing industry, increased by 5.0%, or 3.0%.
The oil and natural gas mining industry, which decreased by 27.0%, decreased by 2.8 percentage points; the oil, coal and other fuel processing industries, decreased by 12.5%, or 3.8 percentage points.
In addition, the prices of chemical raw materials and chemical products manufacturing industry changed from a drop of 3.0% to the same level, and the prices of coal mining and washing industries changed from a drop of 2.9% to an increase of 1.3%.