Prices maintain a stable operation trend (Sharp Finance)
On December 9, the National Bureau of Statistics released data showing that in November, the national consumer price index (CPI) rose by 2.3% year-on-year, an increase of 0.8 percentage points from the previous month, and domestic prices generally maintained a stable operation.
The National Factory Price Index (PPI) of Industrial Producers rose by 12.9% year-on-year, which was 0.6 percentage points lower than the previous month, and remained unchanged from the previous month.
Dong Lijuan, a senior statistician in the City Department of the National Bureau of Statistics, said that mainly due to the low base in the same period last year, in November, the year-on-year increase in CPI increased, but the price of fresh vegetables dropped significantly from the previous month.
At the same time, as the implementation of the policy of ensuring supply and price stabilization continues to increase, the rapid increase in the prices of coal, metals and other energy and raw materials has been initially curbed, and the increase in PPI has declined.
CPI increased year-on-year growth
In November this year, the CPI rose by 2.3% year-on-year and 0.4% month-on-month.
On average from January to November, CPI rose 0.9% over the same period of the previous year.
From a month-on-month perspective, due to the combined effects of seasonal factors, rising costs, and the spread of epidemics, CPI rose by 0.4%, a decrease of 0.3 percentage points from the previous month.
The price of fresh vegetables, which the society paid attention to in the early stage, dropped significantly.
With multiple measures taken by various localities to ensure the supply of "vegetable baskets", the number of vegetables on the market has gradually increased, and the price increase of fresh vegetables has dropped sharply by 9.8 percentage points from the previous month.
From a year-on-year perspective, the CPI rose by 2.3%, an increase of 0.8 percentage points from the previous month.
According to Dong Lijuan's analysis, the year-on-year growth rate has expanded significantly. In addition to being affected by the new price increase this month, it is mainly due to the low base in the same period last year.
Specifically, the price of food changed from a 2.4% year-on-year decrease in the previous month to an increase of 1.6%, which affected the increase in CPI by about 0.3 percentage points.
In food, the price of pork fell by 32.7%, which was 11.3 percentage points lower than the previous month; the price of fresh vegetables rose by 30.6%, which was an increase of 14.7 percentage points from the previous month; the prices of eggs, freshwater fish and edible vegetable oil rose by 20.1% and 18%, respectively. And 9.7%.
According to estimates, out of the 2.3% year-on-year increase in November, the core CPI excluding food and energy prices rose 1.2% year-on-year, a decrease of 0.1 percentage point from the previous month.
PPI year-on-year growth rate fell
In November, PPI rose by 12.9% year-on-year, which was unchanged from the previous month.
On average from January to November, PPI increased by 7.9% over the same period last year.
Dong Lijuan said that in November, as the implementation of the policy of ensuring supply and price stabilization continued to increase, the rapid rise in prices of coal, metals and other energy and raw materials was initially curbed, and the increase in PPI declined.
From a month-on-month perspective, the PPI went flat from a 2.5% increase in the previous month.
Among them, the price of means of production turned from an increase of 3.3% to a decrease of 0.1%; the price of means of subsistence increased by 0.4%, an increase of 0.3%.
Dong Lijuan said that multi-sectoral linkages have curbed the irrational rise in coal prices, coal production and market supply have continued to increase, and coal mining and washing industries, and coal processing prices have changed from rising to falling.
The effect of maintaining supply and stabilizing prices in the metal industry has appeared. The prices of ferrous metal smelting and rolling processing industry, non-ferrous metal smelting and rolling processing industry have changed from rising to falling.
International crude oil and natural gas prices fluctuated at high levels, driving up prices in related domestic industries.
Oil extraction prices, refined petroleum products manufacturing prices, chemical raw materials and chemical product manufacturing prices, gas production and supply industry prices have all increased.
From a year-on-year perspective, PPI rose by 12.9%, a decrease of 0.6 percentage points from the previous month.
Among them, the price of means of production rose by 17%, a drop of 0.9%; the price of means of living rose by 1%, an increase of 0.4%.
Among the 40 industrial sectors surveyed, 37 saw price increases, an increase of 1 over the previous month.
Among the main industries, coal mining and washing, ferrous metal smelting and rolling processing industry, and non-ferrous metal smelting and rolling processing industry have fallen in price increase.
The oil and natural gas extraction industry, gas production and supply industry, textile industry, and food manufacturing industry have seen price increases.
The annual price target can be achieved
Recently, global inflationary pressures have risen.
In the context of economic globalization, continued global inflationary pressures will affect the operation of China's prices?
Guo Liyan, director of the Comprehensive Situation Office of the China Academy of Macroeconomics, analyzes that looking forward to a period of time in the future, the country’s grain production will have another bumper harvest, which has remained above 1.3 trillion catties for seven consecutive years. The market for fresh agricultural and sideline products such as vegetables and pork is adequately supplied, and production and sales are smoothly connected. , The supply of goods and services in the consumer sector is generally abundant, and the domestic CPI has a solid foundation for maintaining stable operation.
With the gradual implementation of various measures to ensure supply and stabilize prices, the prices of most industrial products may tend to fall, and it is expected that the PPI growth rate in the later period is expected to continue the downward trend in general.
"With the precise implementation of cross-cycle macro-control measures, the effects of deepening supply-side structural reforms continue to be released, the coordination of economic work is further enhanced, the supply and demand cycles, industrial cycles, and market cycles of the national economy are further smoothed, and the basis for stabilizing the overall price level will be More reliable, the annual price target can be achieved smoothly." Guo Liyan said.
(Comprehensive reports from our reporter Xu Peiyu and Xinhua News Agency)
Xu Peiyu and Xinhua News Agency