Chinanews.com, July 7 -- The National Bureau of Statistics released the national CPI (Consumer Price Index) and PPI (Industrial Producer Price Index) data for June 10 on the 10th. In this regard, Dong Lijuan, chief statistician of the Urban Department of the National Bureau of Statistics, interpreted.
First, the CPI remained basically stable
In June, the consumer market was basically stable, and the CPI fell slightly month-on-month and remained flat year-on-year.
On a month-on-month basis, the CPI fell by 0.2%, the same rate of decline as in the previous month. Among them, food prices fell by 0.5%, a decrease of 0.2 percentage points from the previous month. Among food, affected by high temperature and rainy weather, the price of fresh vegetables increased by 3.4% from a decrease of 2.3% in the previous month. Other food supplies were generally adequate, and prices mostly fell, with the prices of eggs, fresh fruits, pork and aquatic products falling by between 1.2% and 2.6%. Non-food prices fell 0.1 percent, the same rate of decline as in the previous month. Among non-food products, affected by the decline in international oil prices, domestic energy prices fell by 0.7%, an increase of 0.5 percentage points over the previous month; affected by the promotion activities of "618" merchants, the price of industrial consumer goods excluding energy turned from flat in the previous month to a decrease of 0.3%; Service demand continued to recover, with service prices increasing by 0.1% from a decrease of 0.1% in the previous month. The market supply is tight, and the price of Chinese medicinal materials rises by 1.7%.
From a year-on-year perspective, the CPI turned flat from a 0.2% increase in the previous month. Among them, food prices rose by 2.3%, an increase of 1.3 percentage points over the previous month. In food, fresh vegetables, potatoes, fresh fruits and poultry meat rose more, with an increase of 4.3%-10.8%; Pork prices fell 7.2 percent, up 4.0 percentage points from the previous month. Non-food prices declined by 0.6% from flat in the previous month. Among non-food products, the price of service prices rose by 0.7%, an increase of 0.2 percentage points; the price of industrial consumer goods fell by 2.7%, an increase of 1.0 percentage points, of which energy prices fell by 9.3%, and the price of industrial consumer goods excluding energy fell by 0.5%, and the decline was expanded.
It is estimated that in the year-on-year change in CPI in June, the tail impact of the previous year's price change was about 6.0 percentage points, the same as last month; the new impact of this year's price change was about -5.0 percentage points, compared with -5.0 percentage points last month.
Second, the PPI declined
In June, affected by factors such as the continued decline in the prices of commodities such as oil and coal and the high comparative base of the same period last year, PPI fell month-on-month and year-on-year.
From a month-on-month perspective, PPI fell by 0.8%, a decrease of 0.1 percentage points from the previous month. Among them, the price of means of production fell by 1.1%, a decrease of 0.1 percentage points; the price of means of living fell by 0.2%, the same rate of decline as last month. Affected by the continued decline in crude oil prices in the international market and the fluctuation of non-ferrous metal prices, the prices of petroleum, coal and other fuel processing industries, oil and gas extraction industries, non-ferrous metal smelting and rolling processing industries fell by 2.6%, 1.6% and 0.8% respectively. The supply of coal and steel was large, and the prices of coal mining and washing industry, ferrous metal smelting and rolling processing industry fell by 6.4% and 2.2% respectively. Some technology-intensive industries rose in price, including 1.0% in aircraft manufacturing, 0.4% in smart consumer equipment manufacturing, and 0.2% in medical equipment and equipment. In addition, the price of wind power and solar power generation in electricity production increased by 2.6% and 1.4% respectively.
From a year-on-year perspective, PPI fell by 5.4%, an increase of 0.8 percentage points over the previous month. The widening year-on-year decline was mainly affected by the continued decline in prices in oil, coal and other industries. Among them, the price of means of production fell by 6.8%, an increase of 0.9 percentage points; the price of means of living decreased by 0.5%, an increase of 0.4 percentage points. Of the 40 industrial sectors surveyed, prices fell in 25, down one from the previous month. Among the major industries, the price of oil and gas extraction, petroleum coal and other fuel processing industry, chemical raw materials and chemical products manufacturing, coal mining and washing industry fell by 1.14%-9.25%, and the decline rate expanded. The total impact of the above four petroleum and coal-related industries was about 6.4 percentage points year-on-year, and 2.81 percentage points higher than the impact of the previous month. The prices of ferrous metal smelting and rolling processing industry, non-ferrous metal smelting and rolling processing industry decreased by 0.71% and 16.0% respectively, and the decline rate narrowed by 7.2 and 0.8 percentage points respectively. In addition, the price of cultural, educational, industrial, industrial, and recreational goods manufacturing rose by 1.2%, the price of aircraft manufacturing rose by 4.9%, the price of medical equipment and equipment manufacturing rose by 4.1%, the price of electric power and heat production and supply industry rose by 1.8%, and the price of textile, clothing and clothing rose by 1.3%.
It is estimated that in June's 6.5% year-on-year decline in PPI, the tail impact of last year's price changes was about -4.2 percentage points, the same as last month; the new impact of price changes this year was about -8.2 percentage points, compared with -6.1 percentage points last month. (Zhongxin Finance)