Chinanews.com, April 4 -- The National Bureau of Statistics today released the national CPI (Consumer Price Index) and PPI (Industrial Producer Price Index) data for March 11. In this regard, Dong Lijuan, chief statistician of the Urban Department of the National Bureau of Statistics, said that the CPI in March 2023 fell month-on-month, and the PPI was flat month-on-month.
Dong Lijuan said that in March, production and life continued to recover, the consumer market was well supplied, and consumer prices fell month-on-month and rose year-on-year.
From a month-on-month perspective, the CPI fell by 0.3%, a decrease of 0.2 percentage points from the previous month. Among them, food prices fell by 1.4%, a decrease of 0.6 percentage points from the previous month, affecting the CPI by about 0.27 percentage points. In food, the weather became warmer, the market volume of fresh vegetables increased, the price fell by 7.2%, an increase of 2.8 percentage points over the previous month, affecting the CPI down by about 0.17 percentage points, accounting for nearly 4% of the total decline in CPI; affected by the abundant stock and the decline in consumer demand, pork prices fell by 2.7%, narrowing by 2.0 percentage points, affecting the CPI by about 06.0 percentage points; the prices of grain, edible oil, fresh fruits, eggs, poultry and other foods were relatively stable, with a rise or fall of -1.0%-4.0% Between. Non-food prices were flat from a 2.3% decline in the previous month. Among non-food items, travel demand continued to recover, with hotel accommodation and air ticket prices rising by 5.2% and 9.0% respectively. Spring clothing is new, and clothing prices rise by 5.1%; Car companies cut prices and promotions, and the price of fuel cars fell by 9.<>%.
From a year-on-year perspective, the CPI rose 0.7%, down 0.3 percentage points from the previous month. Among them, food prices rose by 2.4%, down 0.2 percentage points from the previous month, affecting the CPI by about 0.43 percentage points. In food, fresh fruit prices rose by 11.5%, an increase of 3.0 percentage points over the previous month; pork prices rose by 9.6%, an increase of 5.7 percentage points; egg and poultry meat prices rose by 7.8% and 7.4% respectively; The price of fresh vegetables fell by 11.1%, a decrease of 7.3 percentage points. Non-food prices rose by 0.3%, down 0.3 percentage points from the previous month, affecting the CPI by about 0.23 percentage points. Among non-food items, service prices rose by 0.8%, an increase of 0.2 percentage points over the previous month, of which air tickets, hotel accommodation, transportation rental fees and tourism prices increased by 37.0%, 6.1%, 5.9% and 5.3% respectively. Industrial consumer prices turned to a decline of 0.5% from a 0.8% increase in the previous month, mainly affected by lower energy and automobile prices, of which gasoline and diesel prices fell by 6.6% and 7.3% respectively, and fuel car prices fell by 4.5%.
It is estimated that in the 3.0% year-on-year increase in CPI in March, the tail impact of last year's price changes was about 7.0 percentage points, the same as last month; the impact of new price increases was about 7, compared with 0.0 percentage points last month. Core CPI, which excludes food and energy prices, rose 3.0 percent year-on-year, up 7.0 percentage points from the previous month.
In terms of PPI, Dong Lijuan said that in March, affected by the accelerated recovery of the domestic economy and the price trend of some commodities in the international market, the national PPI was flat month-on-month; Affected by the high comparison base in the same period of the previous year, it decreased year-on-year.
On a month-on-month basis, PPI continued to be flat. Among them, the price of means of production turned flat from a 0.1% increase in the previous month; Prices of means of living turned flat from a 0.3% decline in the previous month. Domestic production and market demand continued to improve, key projects accelerated, and the prices of steel, cement and other industries rose, of which ferrous metal smelting and rolling processing industry and cement manufacturing prices increased by 1.3%. International import factors drove down the prices of domestic petroleum and non-ferrous metal related industries, of which the price of oil and gas extraction industry fell by 0.9%, the price of petroleum, coal and other fuel processing industry fell by 0.4%, and the price of non-ferrous metal smelting and rolling processing industry fell by 0.3%. Affected by seasonal factors such as rising temperatures, coal demand has decreased, and the price of coal mining and washing industry has fallen by 1.2%. In addition, the price of computer communications and other electronic equipment manufacturing turned up 1.1% from a 0.4% decline in the previous month.
From a year-on-year perspective, PPI fell by 2.5%, an increase of 1.1 percentage points over the previous month, mainly affected by the higher comparative base of oil, coal, steel and other industries in the same period last year. Among them, the price of means of production fell by 3.4%, an increase of 1.4 percentage points; the price of living materials rose by 0.9%, an increase of 0.2 percentage points. Among the major industries, the prices of oil, non-ferrous metals and related industries with high import dependence fell more, among which the prices of oil and gas extraction fell by 15.7%, an increase of 12.7 percentage points; the prices of petroleum, coal and other fuel processing industries turned from 1.7% in the previous month to 6.1%; The price of chemical raw materials and chemical products manufacturing fell by 7.7%, an increase of 1.7 percentage points; the price of non-ferrous metal smelting and rolling processing industry fell by 8.0%, a decrease of 2.7 percentage points. The total impact of the above industries affected the PPI by about 1.38 percentage points year-on-year, accounting for nearly 11% of the total decline. In addition, the price of ferrous metal smelting and rolling processing industry fell by 0.3%, and the price of coal mining and washing industry decreased by 2.4%; The price of the manufacture of sports and recreational goods rose by 1.0%, and the price of electrical machinery and equipment manufacturing rose by 3.<>%.
It is estimated that in the 3.2% year-on-year decline in PPI in March, the tail impact of last year's price changes was about -5.2 percentage points, compared with -0.0 percentage points last month; the impact of new price increases was about -9.0 percentage points, the same as last month. (Zhongxin Finance)