China News Service, March 9 (Reporter Xie Yiguan) According to data from the National Bureau of Statistics, in February, due to the combined influence of Spring Festival factors and fluctuations in international energy prices, the year-on-year increase in CPI was generally stable.
CPI rise and fall chart.
from the National Bureau of Statistics
The year-on-year increase of CPI in February was the same as the previous month
According to Dong Lijuan, senior statistician of the City Department of the National Bureau of Statistics, the CPI rose by 0.9% year-on-year, the same increase as last month.
Among them, food prices fell by 3.9%, a decrease of 0.1 percentage points from the previous month, affecting the CPI drop of about 0.76 percentage points.
Among food, pork prices fell by 42.5%, affecting CPI by about 0.95 percentage points; fresh fruit prices rose by 6.6%, affecting CPI by about 0.13 percentage points; aquatic product prices rose by 4.9%, affecting CPI by about 0.10 percentage points; egg prices rose 2.6%, affecting the CPI rise by about 0.02 percentage points; grain prices rose by 1.5%, affecting the CPI rise by about 0.03 percentage points.
In addition, non-food prices rose by 2.1%, an increase of 0.1 percentage points from the previous month, affecting the CPI rise of about 1.68 percentage points.
Among non-food items, the prices of industrial consumer goods rose by 3.1%, an increase of 0.6 percentage points from the previous month, among which the prices of gasoline and diesel rose by 23.9% and 26.3% respectively, both of which increased from the previous month.
"According to estimates, in the 0.9% year-on-year increase in February, the impact of last year's price changes was about -0.1 percentage points, and the impact of new price increases was about 1.0 percentage points. The core CPI excluding food and energy prices rose 1.1% year-on-year. , the increase was 0.1 percentage points lower than the previous month." Dong Lijuan said.
Pork prices fell month-on-month, energy prices rose
From a month-on-month perspective, the CPI rose by 0.6%, an increase of 0.2 percentage points from the previous month.
Among them, food prices rose by 1.4%, the same increase as the previous month, affecting the CPI rose by about 0.26 percentage points.
Data map: Citizens are shopping for vegetables in a large supermarket in Shijiazhuang City, Hebei Province.
Photo by China News Agency reporter Zhai Yujia
"In food, affected by the Spring Festival, the prices of fresh vegetables, aquatic products and fresh fruits increased by 6.0%, 4.8% and 3.0% respectively, and the prices of chicken, duck, beef and mutton increased by 0.3%-1.4%; pork and eggs increased by 0.3%-1.4%. Sufficient supply, prices fell by 4.6% and 3.7% respectively." Dong Lijuan pointed out.
Non-food prices rose by 0.4%, an increase of 0.2 percentage points from the previous month, affecting the CPI increase of about 0.34 percentage points.
"Among the non-food items, the prices of industrial consumer goods rose by 0.8% from flat last month," Dong Lijuan said, mainly driven by rising energy prices, of which gasoline, diesel and liquefied petroleum gas prices rose by 6.2%, 6.7% and 1.3% respectively.
The expected annual CPI target of about 3% can be achieved
According to the monitoring by the Ministry of Agriculture and Rural Affairs of the bazaars and collection points in 500 counties across the country, in the first week of March, the national average pork price was 23.71 yuan/kg, down 1.9% from the previous week and down 50.0% year-on-year.
A reporter from Zhongxin Finance recently visited a supermarket in Beijing and found that the price of the front buttocks and the rear buttocks is 12.9 yuan per catty, and the price of pork belly is 16.8 yuan per catty. Compared with two months ago, each catty has dropped by about two yuan.
The picture shows pork sold in a supermarket in Xicheng District, Beijing.
Photo by China News Service reporter Xie Yiguan
"At present, this round of pig cycle is in the stage of production capacity reduction, and the year-on-year growth rate of pork prices has continued to grow negatively, which is the main reason for dragging down the trend of CPI." said Wen Bin, chief researcher of China Minsheng Bank.
On March 5, the government work report once again established the annual CPI growth target of around 3%.
"At present, my country's industrial and agricultural production situation is good. The number of live pigs and the number of reproductive sows remain high. The supply of major industrial products and agricultural products is guaranteed, which has laid the foundation for the stable operation of the CPI this year." Xiang Dong, deputy director of the State Council Research Office pointed out.
However, Xiang Dong emphasized that we must also see the recent high price rises of international energy, which has increased the pressure of transmission to the domestic market; affected by climate factors, it is not ruled out that the prices of some domestic agricultural products such as vegetables will rise in stages.
A reporter from China-News Finance and Economics noticed that international oil prices have continued to soar recently. On the 7th, WTI crude oil futures hit an intraday high of $130.5/barrel, and Brent crude oil futures reached a maximum of $140/barrel.
In addition, the prices of coal, natural gas, and iron ore remained high, and the prices of grains such as corn also rose.
However, "Generally speaking, China's economy is resilient, has a large market space, and has a rich policy toolbox. In particular, the grain production has been harvested year after year, the production capacity of live pigs is sufficient, and the supply of industrial and agricultural products and services is abundant. It is fully qualified, capable, and confident. Continue to keep prices running smoothly," said Hu Zucai, deputy director of the National Development and Reform Commission, that the annual CPI target of around 3% set in this year's government work report is achievable.
"The impact of 2020's tail-raising on 2021 is -0.1 percentage points, but the impact of last year's price on this year's tail-raising is 0.9 percentage points. It is expected that this year's CPI year-on-year increase will expand compared with last year, but it will still maintain a moderate upward trend." Call east.
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