Source: People’s Daily Online-People’s Daily
Beijing, April 11 (Reporter Lu Yanan) The National Bureau of Statistics released the national CPI (Consumer Price Index) and PPI in March on the 11th. (Industrial Producer Price Index) data showed that the CPI increased by 1.5% year-on-year, an increase of 0.6 percentage points from the previous month; the PPI increased by 8.3% year-on-year, a decrease of 0.5 percentage points from the previous month.
In March, due to factors such as the domestic spread of the epidemic and the rise in international commodity prices, the CPI was flat month-on-month, and the year-on-year increase expanded.
From a month-on-month perspective, the CPI in March turned flat from an increase of 0.6% in the previous month. Among them, food prices changed from an increase of 1.4% in the previous month to a decrease of 1.2%, affecting the CPI to drop by about 0.22 percentage points. Dong Lijuan, senior statistician of the Urban Department of the National Bureau of Statistics, analyzed that in food, due to factors such as the fall in consumer demand and sufficient supply after the festival, the price of pork fell by 9.3%, and the price of chicken, duck, beef and mutton, aquatic products and fresh fruit fell by 1.0%-2.3% Affected by the increase in international prices of wheat, corn and soybeans and the impact of the domestic epidemic, the prices of flour, edible vegetable oil, fresh vegetables and eggs rose by 1.7%, 0.6%, 0.4% and 0.3% respectively. Non-food prices went up by 0.3%, a decrease of 0.1 percentage point from the previous month, affecting the CPI rise by about 0.25 percentage point.
From a year-on-year perspective, the CPI rose by 1.5% in March, an increase of 0.6 percentage points from the previous month. Among them, food prices fell by 1.5%, a decrease of 2.4 percentage points from the previous month, affecting the CPI to drop by about 0.28 percentage points. Dong Lijuan analyzed that among food, the price of pork fell by 41.4%, the price of fresh vegetables changed from a decrease of 0.1% in the previous month to an increase of 17.2%; the price of flour increased by 4.6%, an increase of 1.9 percentage points. Non-food prices rose by 2.2%, an increase of 0.1 percentage points from the previous month, affecting the CPI rise of about 1.77 percentage points.
According to estimates, in the 1.5% year-on-year increase in March, the impact of last year’s price changes was about 0.4 percentage points, and the impact of new price increases was about 1.1 percentage points. The core CPI, which excludes food and energy prices, continued to hold steady, rising 1.1% year-on-year in March, the same increase as February.
In March, affected by factors such as rising international commodity prices, the PPI rose month-on-month, and the year-on-year increase continued to fall.
From a month-on-month perspective, PPI increased by 1.1%, an increase of 0.6 percentage points from the previous month. Dong Lijuan analyzed that geopolitical and other factors have pushed the international bulk commodity prices to continue to rise, driving the prices of domestic oil, non-ferrous metals and other related industries to continue to rise. Among them, the price increase of oil and natural gas extraction industry, petroleum coal and other fuel processing industry, chemical fiber manufacturing industry, chemical raw material and chemical product manufacturing industry, non-ferrous metal smelting and rolling processing industry has a total impact on the increase of PPI by about 0.77 percentage points, accounting for the total 70% of the increase.
From a year-on-year perspective, PPI increased by 8.3%, a decrease of 0.5 percentage points from the previous month, mainly due to the high base in the same period last year. Among the 40 major industrial sectors surveyed, 37 saw price increases, an increase of 1 from the previous month. Among them, non-ferrous metal smelting and rolling processing industry increased by 18.3%, down 2.1 percentage points; chemical raw materials and chemical products manufacturing industry increased by 15.7%, down 4.0 percentage points; coal mining and washing industry increased by 53.9%, an increase of 8.5 percentage points; petroleum and natural gas extraction rose 47.4 percent, an increase of 5.5 percentage points. “People’s Daily” (10 edition on April 12, 2022)