Beijing, 5 May (ZXS) -- In view of the overall decline in China's consumer price index (CPI) since the beginning of this year, Fu Linghui, spokesman of China's National Bureau of Statistics and director of the Department of Comprehensive Statistics of the National Economy, responded in Beijing on 16 May that this low operation is staged, and the CPI increase will return to a reasonable level.
In April, China's CPI rose 4.0% year-on-year, down 1.0 percentage points from the previous month, official data showed. Fu Linghui said at the press conference held by the State Council Information Office that China's CPI decline is mainly affected by some phased factors: first, food prices have fallen; Second, the decline in energy prices has expanded; Third, some domestic durable consumer goods price reduction promotion; Fourth, the comparison base in the same period of last year was higher.
He analyzed that in the price, food and energy are affected by short-term factors and tend to fluctuate greatly. Therefore, looking at the overall price situation, it is more important to look at the core CPI. In April, China's core CPI rose 4.0% year-on-year, the same rate as the previous month, and remained generally stable. In the future, with the strengthening of service consumption demand, the price recovery will promote the core CPI growth back to a reasonable level.
Talking about the overall price trend in the next stage, Fu Linghui expects that the CPI year-on-year increase will continue at a low level. After China's economy and society resume normal operation, supply and demand are improving, but demand recovery is still insufficient relative to supply improvement, especially the international environment is complex and severe, external demand has weakened compared with the previous year, and market demand has a relatively limited price pull in the short term.
At the same time, the impact of international imports is likely to continue. Affected by the sluggish recovery of the world economy, international commodity prices have generally fallen compared with last year, which will also have a downward impact on China's prices. In addition, in the year-on-year increase in China's CPI in April, the impact of the price tail in the previous year was 4.0 percentage points, down 5.0 percentage points from the first quarter, and the tail factor is also weakening.
However, Fu Linghui stressed that in general, China's low price growth is staged, with the expansion of domestic demand policy effective, economic activity increased, employment gradually improved, income increased, consumer confidence enhanced, consumption scenarios resumed and expanded, will drive CPI growth back to a reasonable level. (End)