China News Service, December 9th. The National Bureau of Statistics released the national CPI (Consumer Price Index) and PPI (Industrial Producer Price Index) data for November 2022 on the 9th.
Dong Lijuan, chief statistician of the Urban Department of the National Bureau of Statistics, explained that in November, due to the joint influence of the domestic epidemic, seasonal factors, and a higher comparison base in the same period last year, the CPI changed from a month-on-month increase to a decrease, and the year-on-year increase fell.
From a month-on-month perspective, the CPI turned from a rise of 0.1% last month to a fall of 0.2%.
Among them, food prices turned from a 0.1% increase in the previous month to a decrease of 0.8%, which affected the CPI to drop by about 0.14 percentage points.
Among foods, the price of fresh vegetables dropped by 8.3% due to good weather conditions and sufficient supply, which was 3.8 percentage points higher than that of the previous month; the release of pork from the central reserve continued, the supply of live pigs continued to increase, and the price of pork dropped by 0.7% from rising to falling ; The price of fresh fruit rose by 1.5% seasonally.
Non-food prices continued to be flat.
Among non-food items, changes in international oil prices affected domestic gasoline and diesel prices to rise by 2.1% and 2.3% respectively; new winter clothes were launched, and clothing prices rose by 0.4%; affected by the epidemic, air ticket and hotel accommodation prices fell by 7.5% and 2.9% respectively.
From a year-on-year perspective, the CPI rose by 1.6%, a drop of 0.5 percentage points from the previous month.
The year-on-year growth rate fell more, mainly due to the impact of the higher comparison base in the same period last year.
Among them, food prices rose by 3.7%, a drop of 3.3 percentage points from the previous month, which affected the increase of CPI by about 0.68 percentage points.
In food, the price of pork rose by 34.4%, a drop of 17.4 percentage points from the previous month; the prices of eggs, fresh fruits and poultry rose by 10.4%, 9.6% and 8.5% respectively; the prices of grain and edible oil rose by 3.0% and 7.6% respectively, The growth rate fell back from the previous month; the price of fresh vegetables fell by 21.2%, and the decline rate expanded by 13.1 percentage points from the previous month.
Non-food prices rose by 1.1%, the same increase as the previous month, affecting an increase of about 0.88 percentage points in the CPI.
Among non-food items, the prices of gasoline, diesel and liquefied petroleum gas rose by 11.4%, 12.3% and 4.6% respectively, and the growth rates all fell back; the price of household services rose by 2.3%, a drop of 0.2 percentage points from the previous month.
According to estimates, in the 1.6% year-on-year increase in CPI in November, the carryover effect of last year's price changes was about -0.3 percentage points, and the impact of new price increases was about 1.9 percentage points.
The core CPI excluding food and energy prices rose 0.6% year-on-year, the same increase as the previous month.
In addition, in November, affected by the rising prices of coal, petroleum, non-ferrous metals and other industries, the PPI rose slightly month-on-month; affected by the high comparison base in the same period last year, it continued to decline year-on-year.
From a month-on-month perspective, the PPI rose by 0.1%, a decrease of 0.1 percentage points from the previous month.
The price of means of production turned flat from an increase of 0.1% in the previous month; the price of means of living increased by 0.1%, a decrease of 0.4 percentage points.
Coal supply guarantees have been strengthened, and the supply has improved. The price of coal mining and washing industries rose by 0.9%, and the increase fell by 2.1 percentage points.
The prices of oil, non-ferrous metals and other industries rose, among which the prices of oil and natural gas exploitation rose by 2.2%, and the prices of non-ferrous metal smelting and rolling processing rose by 0.7%.
The overall steel demand is still weak, and the price of ferrous metal smelting and rolling processing industry fell by 1.9%, and the decline rate expanded by 1.5 percentage points.
In addition, the price of gas production and supply industry increased by 1.6%, the price of agricultural and sideline food processing industry increased by 0.7%, and the price of computer communication and other electronic equipment manufacturing industry increased by 0.3%.
From a year-on-year perspective, PPI fell by 1.3%, which was the same as the previous month.
The price of means of production decreased by 2.3%, and the rate of decline narrowed by 0.2 percentage points from the previous month; the price of means of living increased by 2.0%, and the rate of increase dropped by 0.2 percentage points.
Among the 40 industrial categories surveyed, 15 saw their prices drop and 25 saw their prices rise.
Among the main industries, the price decline expanded: chemical raw material and chemical product manufacturing decreased by 6.0%, an increase of 1.6 percentage points; chemical fiber manufacturing decreased by 3.7%, an increase of 2.6 percentage points.
The price decline narrowed: the ferrous metal smelting and rolling processing industry fell by 18.7%, narrowing by 2.4 percentage points; the coal mining and washing industry fell by 11.5%, narrowing by 5.0 percentage points; the non-ferrous metal smelting and rolling processing industry fell by 6.0% , narrowed by 1.8 percentage points.
The price increase fell: the oil and natural gas mining industry rose 16.1%, down 4.9 percentage points; the agricultural and sideline food processing industry rose 7.9%, down 0.8 percentage points; the oil, coal and other fuel processing industry rose 6.9%, down 1.7 percentage points.
The prices of computer communications and other electronic equipment manufacturing industries rose by 1.2%, an increase of 0.6 percentage points.
According to estimates, in the 1.3% year-on-year decline in PPI in November, the carryover effect of last year's price changes was about -1.2 percentage points, and the impact of new price increases was about -0.1 percentage points.
(China New Finance and Economics)