National Bureau of Statistics: CPI rose 0.8 percent year-on-year in August, PPI rose 9.5 percent year-on-year

2021-10-14: [Article Link]. In August, food, tobacco and alcohol prices fell by 2.0% year-on-year, affecting the CPI (consumer price index) fell by about 0.58 percentage points. In food, the price of livestock and meat fell by 27.1%, affecting the decline of about 1.20 percentage points, of which the price of pork fell 44.9%, the impact of CPI decreased by about 1.09 percentage points; Fresh vegetable prices fell by 1.5%, the impact of CPI decreased by about 0.03 percentage points; Egg prices rose 13.9%, the impact of CPI rose by about 0.08 percentage points; The price of aquatic products rose 11.7%, the impact of CPI rose about 0.21 percentage points; Fresh fruit prices rose 5.0%, the impact of CPI rose by about 0.08 percentage points; Grain prices rose 0.8%, affecting CPI rose about 0.01 percentage points. The prices of the other seven categories rose six year-on-year. Among them, the prices of transportation and communication, education, culture and entertainment, and housing rose by 5.9%, 3.0% and 1.1% respectively, while the prices of daily necessities and services, clothing and health care increased by 0.6%, 0.5% and 0.4% respectively; prices of other supplies and services fell by 3.9%. In August, food, tobacco and alcohol prices rose 0.5% month-on-month, affecting CPI up about 0.15 percentage points. In food, fresh vegetable prices rose 8.6%, affecting CPI up about 0.16 percentage points; Egg prices rose 7.3%, affecting CPI rose about 0.05 percentage points; Aquatic products prices fell 2.3%, the impact of CPI decreased by about 0.05 percentage points; The price of livestock and meat decreased by 0.9%, affecting the decline of about 0.03 percentage points, of which the price of pork decreased by 1.4%, the impact of CPI decreased by about 0.02 percentage points; the price of fresh fruit fell by 0.4%, and the impact of CPI decreased by about 0.01 percentage points. The other seven categories of prices rose two times, two levels and three fell. Among them, the prices of housing, daily necessities and services rose by 0.1%; The prices of education, culture, entertainment, and health care were flat; The prices of other supplies and services, transportation and communications, and clothing fell by 0.9%, respectively, 0.6% and 0.1%. From a month-on-month point of view, CPI rose 0.1%, up 0.2 percentage points from the previous month. Among them, food prices from the previous month fell 0.4% to rise 0.8%, affecting the CPI rise of about 0.14 percentage points. In food, affected by the spread of epidemics, heavy rainfall and high temperature weather, fresh vegetables and eggs prices rose by 8.6% and 8.4% respectively, an increase of 7.3 and 7.4 percentage points over the previous month; Pork supply continued to increase, prices continued to fall 1.4%, and the rate of decline narrowed by 0.5 percentage points from the previous month; A large number of aquatic products were listed, and the prices of freshwater fish and shrimp and crabs fell by 3.3% and 4.0% respectively. Non-food prices from the previous month's rise 0.5% to a 0.1% decline, affecting the CPI decline of about 0.05 percentage points. In non-food, the prices of industrial consumer goods from the previous month's rise 0.4% to a decline of 0.2%, mainly due to the decline in international crude oil prices, gasoline and diesel prices from the rise to the decline; service prices rose by 0.6% last month to flat, mainly affected by the epidemic, air tickets, tourism and hotel accommodation and other travel services consumption was suppressed, prices from rising to falling. From a year-on-year perspective, CPI rose 0.8%, up 0.2 percentage points from the previous month. Among them, food prices fell 4.1%, the rate of decline of 0.4 percentage points over the previous month, the impact of CPI decline of about 0.77 percentage points. In food, pork prices fell 44.9%, an increase of 1.4 percentage points over the previous month; Freshwater fish prices rose 25.4%, down 5.5 percentage points; Eggs and edible vegetable oil prices rose 15.9% and 9.4% respectively, gains were down. Non-food prices rose 1.9%, down 0.2 percentage points from the previous month, the impact of CPI up about 1.58 percentage points. In non-food, the prices of industrial consumer goods rose 2.5%, and the rate of increase fell 0.3 percentage points, of which gasoline and diesel prices rose 22.7% and 25.2%, respectively, and the price of services rose 1.5%, the increase fell by 0.1 percentage points, of which air tickets and hotel accommodation prices rose 31.6% and 2.8% respectively, and the increase fell. It is estimated that in the year-on-year increase in the 0.8% of the year-on-year increase in August, the impact of last year's price changes was about 0.2 percentage points, down 0.3 percentage points from the previous month; The impact of new price increases was about 0.6 percentage points, it expanded by 0.1 percentage points from the previous month. The core CPI, which excludes food and energy prices, rose 1.2% year-on-year, down 0.1 percentage points from the previous month. On a month-on-month basis, PPI rose 0.7%, an increase of 0.2 percentage points over the previous month. Among them, the prices of means of production rose 0.9%, an increase of 0.3 percentage points; The prices of means of living were flat. From the perspective of major industries, affected by strong demand superimposed on the overall tight supply, coal mining and washing industry prices rose by 6.5%; Early crude oil, coal and other prices rose more, to promote the domestic downstream industry prices continue to rise, among them, the prices of chemical raw materials and chemical products manufacturing industry rose by 1.9%, an increase of 1.1 percentage points; Driven by the recent rapid rise in imported natural gas prices, domestic gas production and supply industry prices rose 1.7%, the increase expanded by 1.5 percentage points; Ferrous metal smelting and rolling processing industry, non-ferrous metal smelting and rolling processing industry prices from decline to rise, rising 2.2% and 1.4% respectively. On a year-on-year basis, PPI rose 9.5%, an increase of 0.5 percentage points over the previous month. Among them, the prices of means of production rose 12.7%, an increase of 0.7 percentage points; The price of means of living rose 0.3%, the same as last month. Among the main industries, coal mining and washing industry, ferrous metal mining and dressing industry, oil and natural gas extraction industry, petroleum coal and other fuel processing industry, ferrous metal smelting and rolling processing industry, non-ferrous metal smelting and rolling processing industry, chemical raw materials and chemical products manufacturing, chemical fiber manufacturing prices between 21.8%-57.1%, the total impact of PPI rose by about 7.9 percentage points, more than 80% of the total increase. Among them, the price increase of coal mining and washing industry, chemical raw materials and chemical products manufacturing, ferrous metal smelting and rolling processing industry increased by 11.4, 2.7 and 1.1 percentage points respectively, it is the main reason for the expansion of the year-on-year increase. It is estimated that in the year-on-year increase in the 9.5% of the year-on-year increase in August, the impact of last year's price changes was about 1.8 percentage points, down 0.3 percentage points from the previous month; The impact of new price increases was about 7.7 percentage points, expanded by 0.8 percentage points.

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