China News Service, August 10. The National Bureau of Statistics released the national CPI (Consumer Price Index) and PPI (Industrial Producer Price Index) data for July 2022 on the 10th.
In this regard, Dong Lijuan, senior statistician of the Urban Department of the National Bureau of Statistics, interpreted it.
1. CPI rose month-on-month, and the year-on-year increase slightly expanded
In July, due to the increase in the price of pork, fresh vegetables and other food and seasonal factors, the CPI rose from a month-on-month level, and the year-on-year increase slightly expanded.
From a month-on-month perspective, the CPI increased by 0.5% from flat in the previous month.
Among them, food prices changed from a decrease of 1.6% in the previous month to an increase of 3.0%, affecting the CPI increase of about 0.53 percentage points.
In food, the price of pork rose by 25.6% due to the gradual emergence of the effect of reducing the production capacity of live pigs in the early stage, the reluctance of some farmers to sell and the recovery of consumer demand; due to the continuous high temperature in many places, the price of fresh vegetables fell by 9.2% from the previous month. It turned to an increase of 10.3%, which was higher than the seasonal increase; the fresh fruit was launched in large quantities, and the price fell by 3.8%.
Non-food prices changed from an increase of 0.4% in the previous month to a decrease of 0.1%, affecting the CPI to drop by about 0.07 percentage points.
Among non-food items, domestic gasoline and diesel prices fell by 3.4% and 3.6%, respectively, due to the decline in international oil prices; due to the increase in summer travel, air tickets, hotel accommodation, transportation rental fees and travel prices rose by 6.1%, 5.0%, 4.3% and 3.5%.
On a year-on-year basis, the CPI rose by 2.7%, an increase of 0.2 percentage points from the previous month.
Among them, food prices rose by 6.3%, an increase of 3.4 percentage points from the previous month, affecting the CPI rise of about 1.12 percentage points.
Among food, the price of pork changed from a decrease of 6.0% in the previous month to an increase of 20.2%; the prices of fresh fruit and fresh vegetables increased by 16.9% and 12.9% respectively; the prices of grain, poultry meat, eggs and edible vegetable oil increased by 3.4%-7.4%.
Non-food prices rose by 1.9%, 0.6 percentage points lower than the previous month, affecting the CPI rise of about 1.56 percentage points.
Among them, the prices of gasoline, diesel and liquefied petroleum gas rose by 24.6%, 26.7% and 22.4%, respectively, and the growth rates all declined.
According to estimates, in the 2.7% year-on-year increase in July, the impact of last year's price changes was about 0.9 percentage points, and the impact of new price increases was about 1.8 percentage points.
The core CPI, excluding food and energy prices, rose by 0.8% year-on-year, a decrease of 0.2 percentage points from the previous month.
2. PPI decreased month-on-month, and the year-on-year increase continued to drop
In July, affected by many factors, including international and domestic, the prices of industrial products fell as a whole.
From a month-on-month perspective, the PPI decreased by 1.3% from flat in the previous month.
Among them, the prices of means of production fell by 1.7%, and the rate of decline expanded by 1.6 percentage points; the prices of means of living rose by 0.2%, and the increase fell by 0.1 percentage points.
The fall in the prices of international bulk commodities such as crude oil and non-ferrous metals led to a decline in the prices of domestic related industries. Among them, the prices of chemical raw materials and chemical products manufacturing industry fell by 2.1%, the prices of petroleum, coal and other fuel processing industries fell by 2.0%, and the prices of oil and natural gas extraction industries fell by 1.3%. %; the price of non-ferrous metal smelting and rolling processing industry decreased by 6.0%.
In addition, the price of ferrous metal smelting and rolling processing industry fell by 6.2%, the price of non-metallic mineral products industry fell by 1.9%, and the price of electricity and heat production and supply industry fell by 1.1%, all of which expanded.
The price of coal mining and washing industry changed from an increase of 0.8% in the previous month to a decrease of 2.1%.
On a year-on-year basis, PPI increased by 4.2%, a decrease of 1.9 percentage points from the previous month.
Among them, the prices of means of production rose by 5.0%, and the growth rate dropped by 2.5 percentage points; the prices of means of living rose by 1.7%, the same increase as the previous month.
Of the 40 major industrial sectors surveyed, 35 saw price increases, 2 less than last month.
Among the major industries, the price increases fell: coal mining and washing rose 20.7%, down 10.7 percentage points; oil and natural gas extraction rose 43.9%, down 10.5 percentage points; non-ferrous metal smelting and rolling processing rose 1.9%, Down 6.3 percentage points; petroleum, coal and other fuel processing industries rose 28.6%, down 6.1 percentage points; chemical raw materials and chemical products manufacturing rose 10.6%, down 3.2 percentage points.
The price of ferrous metal smelting and rolling processing industry decreased by 9.5%, and the decline expanded by 5.8 percentage points.
The price of agricultural and sideline food processing industry rose by 6.8%, an increase of 1.2 percentage points.
According to estimates, among the 4.2% year-on-year increase in PPI in July, the impact of last year's price changes was about 3.2 percentage points, and the impact of new price increases was about 1.0 percentage points.
(Zhongxin Finance)