China News Service, October 14. The website of the National Bureau of Statistics released the national CPI (Consumer Price Index) and PPI (Industrial Producer Price Index) data for September 2022 on the 14th.

In this regard, Dong Lijuan, chief statistician of the City Department of the National Bureau of Statistics, interpreted it.

CPI rose slightly month-on-month, and the year-on-year increase expanded

　　In September, various regions and departments continued to coordinate the promotion of epidemic prevention and control and economic and social development, and took various measures to ensure the supply and price of important commodities for people's livelihood.

　　From a month-on-month perspective, the CPI increased by 0.3% from a decrease of 0.1% in the previous month.

Among them, food prices rose by 1.9%, an increase of 1.4 percentage points from the previous month, affecting the CPI increase of about 0.35 percentage points.

In food, affected by the high temperature and little rain, the price of fresh vegetables rose by 6.8%, an increase of 4.8 percentage points from the previous month, affecting the CPI to rise by about 0.14 percentage points, accounting for more than 40% of the total month-on-month increase in the CPI; the seasonal rebound in pork consumption demand, coupled with Under the bullish expectation, some farmers are reluctant to sell, and prices continue to rise. However, under the action of measures such as the release of pork from the central reserve, the increase has slowed down in the mid-to-late period, with an average monthly increase of 5.4%. Affected by the increase in consumer demand during the festival, eggs , shrimp, crab and fresh fruit prices rose by 6.0%, 2.4% and 1.3% respectively.

Non-food prices were flat from a 0.3% drop in the previous month.

Among non-food items, the prices of industrial consumer goods were flat from a decrease of 0.7% in the previous month. Due to the decline in international oil prices, the prices of domestic gasoline and diesel decreased by 1.2% and 1.3% respectively; the prices of clothing rose by 0.8% when the seasons changed in summer and autumn.

The service price changed from being flat in the previous month to a decrease of 0.1%. Due to the end of the summer vacation and the spread of the epidemic, cross-regional travel decreased, and the prices of air tickets, hotel accommodation and travel agencies decreased by 9.9%, 2.9% and 1.3% respectively; local travel and surrounding areas With the increase in tourism, the price of transportation rental fees increased by 4.0%.

　　On a year-on-year basis, the CPI rose by 2.8 percent, an increase of 0.3 percentage points from the previous month.

Among them, food prices rose by 8.8%, an increase of 2.7 percentage points from the previous month, affecting the CPI rise of about 1.56 percentage points.

Among food, the price of pork rose by 36.0%, an increase of 13.6 percentage points from the previous month; the prices of fresh fruit and fresh vegetables rose by 17.8% and 12.1% respectively, and the prices of edible oil, poultry meat, eggs and grain rose by 8.3%, 7.9% and 7.9% respectively. 7.6% and 3.6%, the gains both expanded.

Non-food prices rose by 1.5%, 0.2 percentage points lower than the previous month, affecting the CPI rise of about 1.21 percentage points.

Among the non-food items, the prices of industrial consumer goods rose by 2.6%, a decrease of 0.4 percentage points from the previous month. Among them, the prices of gasoline, diesel and liquefied petroleum gas rose by 19.2%, 21.0% and 16.6% respectively, and the growth rates all declined; the prices of services rose by 0.5%. , the increase was 0.2 percentage points lower than the previous month.

　　According to estimates, among the 2.8% year-on-year CPI increase in September, the impact of last year's price changes was about 0.8 percentage points, and the impact of new price increases was about 2.0 percentage points.

The core CPI, excluding food and energy prices, rose by 0.6% year-on-year, a decrease of 0.2 percentage points from the previous month.

The month-on-month decline of PPI narrowed, and the year-on-year increase continued to fall

　　In September, the prices of international crude oil and other bulk commodities continued to decline, the demand in some domestic industries rebounded, and the prices of industrial products declined as a whole, but the downward trend slowed down.

　　From a month-on-month perspective, the PPI decreased by 0.1%, a decrease of 1.1 percentage points from the previous month.

Among them, the prices of means of production decreased by 0.2%, with the rate of decline narrowed by 1.4 percentage points; the prices of means of living changed from a decrease of 0.1% to an increase of 0.1%.

The decline in international crude oil prices led to a decline in the prices of related domestic industries. Among them, the prices of oil and natural gas extraction industry fell by 3.8%, the prices of chemical raw materials and chemical products manufacturing industry fell by 1.5%, the prices of chemical fiber manufacturing industry fell by 0.4%, and the prices of petroleum, coal and other fuel processing industries fell by 0.4%. Prices fell 0.1%.

Infrastructure investment projects were gradually implemented, and the demand for metals, cement and other related industries rebounded, and the price drop narrowed.

The price of ferrous metal smelting and rolling processing industry decreased by 1.7%, and the rate of decline narrowed by 2.4 percentage points; the price of non-ferrous metal smelting and rolling processing industry decreased by 0.1%, and the rate of decline narrowed by 1.9 percentage points; the price of non-metallic mineral products industry decreased by 0.4%, and the rate of decline narrowed. 0.6 percentage points narrower.

The demand for coal storage increased, and the price of coal mining and washing industry changed from a decrease of 4.3% to an increase of 0.5%.

In addition, the price of agricultural and sideline food processing industry changed from a decrease of 0.2% to an increase of 0.8%; the price of electricity and heat production and supply industry increased by 1.3%, an increase of 1.0 percentage points.

　　On a year-on-year basis, the PPI increased by 0.9%, a decrease of 1.4 percentage points from the previous month.

Among them, the prices of means of production rose by 0.6%, and the growth rate dropped by 1.8 percentage points; the prices of living materials rose by 1.8%, and the growth rate increased by 0.2 percentage points.

Among the 40 major industrial sectors surveyed, 30 saw price increases, a decrease of 2 from the previous month.

Among the major industries, the price increases fell: the petroleum, coal and other fuel processing industries rose by 17.2%, down 4.1 percentage points; the oil and natural gas extraction industry rose by 31.1%, down 3.9 percentage points; the chemical raw materials and chemical products manufacturing industry rose by 1.0% , down 3.5 percentage points.

Prices changed from rising to falling: coal mining and washing industry changed from rising 8.6% to falling 2.7%, and non-metallic mineral products industry changed from rising 1.4% to falling 1.8%.

The price declines expanded: the ferrous metal smelting and rolling processing industry fell by 18.0%, and the non-ferrous metal smelting and rolling processing industry fell by 4.4%, both of which increased by 2.9 percentage points.

The price increases were expanded: the electricity and heat production and supply industry rose by 10.1%, and the agricultural and sideline food processing industry rose by 7.4%, with an increase of 0.9 percentage points.

　　According to estimates, among the 0.9% year-on-year increase in PPI in September, the impact of last year's price changes was about 1.3 percentage points, and the impact of new price increases was about -0.4 percentage points.

(Zhongxin Finance)