China News Service, November 15th. National Bureau of Statistics spokesperson Fu Linghui pointed out on the 15th that the supply of major energy products is increasing and the price situation has improved.
Judging from the price situation in the circulation sector in late October and early November, coal prices have seen a relatively significant decline from the previous month.
The State Council Information Office held a press conference on the 15th to introduce the operation of the national economy in October 2021.
At the meeting, a reporter asked: The scissors gap between PPI and CPI reached 12% in October, a record high.
Excuse me, what is the reason behind this historical high?
Some opinions predict that the current difference may have peaked. How does the National Bureau of Statistics view this?
In this regard, Fu Linghui said that in October, the increase in CPI and PPI both expanded, of which CPI rose 1.5% year-on-year, an increase of 0.8 percentage points from the previous month.
PPI rose 13.5% year-on-year, an increase of 2.8 percentage points from the previous month.
From the perspective of the expansion of the increase, it is mainly due to the expansion of the PPI, which has caused the gap between the CPI and the PPI to expand.
Looking at the overall situation of PPI, the increase in PPI is mainly due to the price of production materials, especially the price increase in the upstream industry.
In October, the price of the means of production in the PPI rose by 17.9% year-on-year, affecting the PPI's rise by 13.36 percentage points, accounting for 99% of the overall PPI increase.
Among them, the prices of extractive industries and raw material industries rose by 66.5% and 25.7% respectively, which was significantly higher than the increase in the prices of processing industries and subsistence materials in the middle and lower reaches.
From the perspective of influencing factors, the expansion of PPI growth is mainly due to two factors: one is the imported impact of rising international commodity prices.
Recently, international energy supply and demand have been tight, and prices have continued to rise.
In October, international energy prices rose by 16.1% month-on-month, which affected the price increase in the domestic petrochemical industry.
In October, the petroleum, coal and other fuel processing industries in the PPI rose by 53% year-on-year, and the prices of chemical raw materials and chemical products manufacturing rose by 31.5%.
The second is the impact of tight supply in some domestic coal and metal industries.
In October, the price of coal mining and washing industry in the PPI increased by 103.7% year-on-year, and the price of steel increased by 39.9%.
Fu Linghui said that in the face of rising international commodity prices and tight supply in some domestic industries, the central government attaches great importance to this issue, and relevant departments have introduced a series of measures to increase market supply and price stability.
At present, the effect is gradually showing, the supply of major energy products is also increasing, and the price situation has improved.
Judging from the price situation in the circulation sector in late October and early November, coal prices have seen a relatively significant decline from the previous month.