China News Service, July 9th, according to the National Bureau of Statistics website, the National Bureau of Statistics today released the national CPI (Consumer Price Index) and PPI (Industrial Producer Price Index) data for June 2019. In this regard, Dong Yaxiu, director of the City Department of the National Bureau of Statistics, interpreted that the CPI growth was stable in June 2019, and the PPI fell slightly.
1. The CPI decreased slightly from the previous month, and the year-on-year increase was the same as last month
From a quarter-on-quarter perspective, CPI changed from flat last month to a decrease of 0.1%. Among them, food prices fell by 0.3%, affecting CPI by about 0.06 percentage points; non-food prices fell by 0.1%, affecting CPI by about 0.05 percentage points. In food, fresh vegetables are put on the market in large quantities, the price drops by 9.7%, which affects the CPI drop by about 0.25 percentage points; the early-stage supplementary chicks start to produce, and the egg supply is sufficient, the price drops by 2.6%, which affects the CPI drop by about 0.01 percentage points; the shrimp and crab supply increases The price of aquatic products dropped by 0.9%, which affected the CPI drop by about 0.02 percentage points. Concentrated market prices for fruits such as watermelon and peach have declined, but prices for apples and pears continue to rise at a higher rate. In addition, several heavy rainfalls in parts of the south have affected picking and transportation. The prices of fruits such as dragon fruit and pineapple have increased, and the price of fresh fruits has increased by 5.1% , Affecting the CPI rise by about 0.11 percentage points, the current price level is at a historical high; pork supply is tight, the price rose by 3.6%, affecting the CPI rose by about 0.09 percentage points. In non-food products, affected by the price adjustment of refined oil, the prices of gasoline and diesel fell by 3.5% and 3.7%, respectively, which affected the CPI by about 0.07 percentage points.
From a year-on-year perspective, CPI rose by 2.7%, the same rate as last month. Among them, food prices rose by 8.3%, affecting CPI by about 1.58 percentage points; non-food prices rose by 1.4%, affecting CPI by about 1.10 percentage points. In food, the price of fresh fruit rose by 42.7%, an increase of 16.0 percentage points from the previous month, affecting the CPI by about 0.71 percentage points. In addition to the impact of climate and other factors, the lower price in the same period last year was also one of the reasons for the increase in price; pork prices rose by 21.1 %, an increase of 2.9 percentage points from the previous month, affecting CPI rose by about 0.45 percentage points; fresh vegetable prices rose 4.2%, a decrease of 9.1 percentage points from last month, affecting CPI rose by about 0.10 percentage points. Among non-food items, health care, education, culture, entertainment, and housing prices rose by 2.5%, 2.4%, and 1.6%, respectively, which together affected CPI by about 0.84 percentage points. According to estimates, of the 2.7% year-on-year increase in June, the tailing effect of price changes last year was about 1.5 percentage points, and the impact of new price increases was about 1.2 percentage points.
2. PPI changed from rising to falling month-on-month, from rising to flat year-on-year
From a chain perspective, PPI changed from a rise of 0.2% last month to a decline of 0.3%. Among them, the price of means of production changed from a rise of 0.2% last month to a decline of 0.4%, and the price of means of living changed from a rise of 0.1% last month to a flat level. Judging from the surveyed 40 industrial sectors, prices rose by 18, a decrease of 3 from the previous month; a decrease of 17 increased by 6; a flat of 5 decreased by 3. Among the major industries, oil-related industries are affected by the decline in international crude oil prices, and prices have shifted from rising to falling. Among them, the prices of the oil and gas extraction industry have fallen by 3.9%, and the prices of oil, coal and other fuel processing industries have fallen by 1.9%. Affected by the substantial increase in steel production in the previous period and the sufficient market supply, the price of ferrous metal smelting and rolling processing industry changed from rising to falling by 1.3%. In addition, due to the recent increase in iron ore demand and tight supply, the price of ferrous metal mining and dressing industry increased by 3.7%, an increase of 1.5 percentage points from the previous month.
From a year-on-year perspective, PPI turned flat from a rise of 0.6% last month. Among them, the price of means of production changed from a rise of 0.6% last month to a decrease of 0.3%; the price of means of living rose 0.9%, the same rate as the previous month. Among the major industries, the coal mining and washing industry, which rose by 3.4%, fell by 0.4% from the previous month; the non-metallic mineral products industry rose by 2.5% and fell by 0.6%. The oil, coal and other fuel processing industries, which declined from the rise and fall, fell by 1.9%; the oil and gas extraction industry, fell by 1.8%; and the ferrous metal smelting and rolling processing industries, fell by 0.5%. In addition, the price of the ferrous metal mining and dressing industry rose by 18.5%, an increase of 4.3 percentage points from the previous month. According to estimates, June was flat year-on-year, with the tailing effect of price changes last year and the effect of new price increases being about 0.3 percentage points and -0.3 percentage points, respectively.