China News Service, November 15th, National Bureau of Statistics spokesperson Fu Linghui said on the 15th that from the perspective of the overall supply of industry and service industries, the market supply is still relatively sufficient, and CPI does not have the basis for a sharp rise.
The State Council Information Office held a press conference on the 15th to introduce the operation of the national economy in October 2021.
Fu Linghui responded to a reporter’s question and said that due to the impact of the third quarter of the epidemic and flood conditions, economic growth has slowed down, and at the same time, the imported impact of rising international commodity prices and the supply of some domestic energy and raw materials. The tightness has also caused the increase in the ex-factory prices of industrial producers to expand, which seems to have some signs of stagflation.
However, this situation is caused by short-term shock factors and is a phased situation.
From the perspective of economic growth, as the short-term factors restricting the economy gradually weaken, the economic recovery trend is gradually emerging.
Judging from the situation of the main indicators in October, the two-year average growth rate of the main indicators of production and demand has mostly rebounded.
At the same time, the market's efforts to ensure supply and price stability are increasing, and the tight supply of some energy products is gradually improving. These are all conducive to stable economic growth.
From the perspective of prices, although the imported impact of rising international energy prices continues, various domestic parties have increased their efforts to increase production and supply, and increase their financial and financial support for enterprises. These are all conducive to lowering production prices. The upward pressure reduces the transmission of PPI to CPI.
At the same time, from the perspective of consumer prices, the overall increase is still relatively moderate. In October, it rose by 1.5% year-on-year, and the core CPI rose by 1.3%.
Fu Linghui pointed out that in the next stage, my country's grain production is expected to have another bumper harvest. Live pig production capacity is currently restored on the whole, and pork prices are still declining year-on-year, which will reduce the increase in CPI.
At the same time, judging from the overall situation of the supply of industry and service industries, the market supply is still relatively sufficient, and the CPI does not have the basis for a sharp rise.
Based on these circumstances, my country's economy is expected to continue to recover steadily, and consumer prices will continue to rise moderately.
Fu Linghui said that with regard to the recent increase in corporate costs and difficulties in the real economy due to the recent increase in commodity prices, it is still necessary to attach great importance to the work of ensuring supply and stabilizing prices, actively helping companies to relieve their difficulties, and promoting economic operations to maintain Reasonable interval.