Xinhua All Media 丨Domestic prices are generally stable Focus on the CPI and PPI data in January

Mondo Finance Updated on 2024-02-09

Xinhua News Agency, Beijing, Feb. 8 (Xinhua) -- Domestic prices are generally stable -- focusing on the CPI and PPI data for January.

Wei Yukun, Yu Dian.

According to data released by the National Bureau of Statistics on the 8th, in January, the national household consumption ** index (CPI) fell by 08%, 03% for two consecutive months**; The national industrial producers** index (PPI) fell by 2 percent year-on-year5%, down 02%, the decline rate was narrower than that of the previous month, and the domestic price operation was generally stable.

Dong Lijuan, chief statistician of the Urban Department of the National Bureau of Statistics, analyzed that in January, the year-on-year decline in CPI expanded, mainly due to the fact that the Spring Festival of last year was located in January, coupled with the increase in consumer demand after the transition of epidemic prevention and control in the same period, resulting in a high base of comparison in the previous year.

In China's CPI "basket" of goods, food accounts for a relatively high proportion. In January, food** fell by 5 percent year-on-year9%, of which pork, fresh vegetables and fresh fruits** fell respectively. 7% and 91%, the total impact of CPI decreased by about 078 percentage points, accounting for more than ninety percent of the year-on-year decline in CPI, is the main factor driving the year-on-year decline in CPI.

From a month-on-month perspective, in January, food **month-on-month**04%, an increase of 05 percentage points. Dong Lijuan analyzed that affected by factors such as cold wave weather and the approaching Spring Festival, shrimp and crabs, fresh vegetables, potatoes and fresh fungi were respectively compared with the previous month5% and 13%;The market** was relatively sufficient, with eggs, edible oil, fresh fruit and pork** declining month-on-month. 5% and 02%。

Jin Xiandong, director of the Policy Research Office of the National Development and Reform Commission, said that it is expected that under the effect of various factors such as the gradual weakening of the base and cyclical effects, the steady recovery of market demand, and the continuous effectiveness of the policy of benefiting farmers and farmers, food will have a foundation for stable operation.

Statistics show that in January, non-food **year-on-year**04%, down 0. month-on-month1% to **02%。Among them, the demand for travel increased, and the air tickets and tourism **month-on-month **121% and 42%;Affected by the return of migrant workers before the holiday and the increase in demand for services, domestic services, hairdressing and maternal and child care services were **month-on-month**6% and 15%;Affected by changes in international oil prices, domestic gasoline ** decreased by 1 month-on-month0%。

In January, the core CPI, which excludes food and energy**, was 03%, an increase comparable to the average of the same period in the past ten years; Year-on-year **04% to keep it mild**. Dong Lijuan said.

From the perspective of industrial producers, in January, affected by factors such as the fluctuation of international bulk commodities and the entry of some domestic industries into the traditional off-season of production, the national industrial producers' ex-factory index (PPI) decreased month-on-month and year-on-year, but the decline was narrowed. PPI fell 25%, a decrease of 0 from the previous month2 percentage points; Month-on-month, it decreased by 02%, a decrease of 01 percentage point.

Specifically, in January, affected by the fluctuations of commodities such as the international market and non-ferrous metals, the domestic oil and gas extraction industry fell by 08%, petroleum, coal and other fuel processing industry** decreased by 17%, the decline has narrowed; Non-ferrous metal smelting and rolling processing industry**month-on-month**0.3%。The demand for steel pre-holiday replenishment has increased, and the ferrous metal smelting and rolling processing industry has increased by 0 compared with the previous month4%。The demand for heating in some areas increased, and the coal mining and washing industry increased slightly by 01%。

Ensuring the supply and price stability of important livelihood commodities such as grain, oil, meat, eggs, vegetables, fruits, and milk is related to the basic livelihood of the people. As the Spring Festival in 2024 approaches, it is very important to protect the people's "rice bags" and "vegetable baskets".

Shaanxi Xi'an, Xianyang and other 9 cities will put 20,000 tons of reserve vegetables; The competent department of commerce of Henan Province coordinates with the transportation and public security traffic management departments to give priority to ensuring the passage of vehicles transporting daily necessities; The Anhui Provincial Department of Commerce launched the system during the festival and urged the commerce departments at all levels to strengthen the monitoring and ...... of local daily necessitiesIn view of the recent widespread continuous rain, snow and freezing weather in some parts of China, relevant localities have taken measures to ensure daily necessities according to local conditions**.

The reporter learned from the Ministry of Commerce that the inventory of daily necessities such as grain, oil, meat, eggs, milk, fruits and vegetables in large-scale agricultural and sideline product wholesale markets around the country is sufficient, and the stock of daily necessities in key wholesale markets and supermarkets has increased by 10% to 30% compared with usual. Major e-commerce platforms continue to provide delivery services during the Spring Festival.

Xu Xingfeng, director of the Department of Market Operation and Consumption Promotion of the Ministry of Commerce, said that the Ministry of Commerce will continue to improve the three networks of "monitoring, scheduling and reserve", timely grasp the basic situation of the production, circulation and consumption of key varieties of daily necessities, improve emergency response capabilities, increase commercial inventory according to the situation, and ensure that the reserve commodities are "fully stored, transferred and used".

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