The National Bureau of Statistics today released national CPI (Consumer Price Index) and PPI (Producer Price Index) data for September 2022. In this regard, Dong Lijuan, chief statistician of the Urban Department of the National Bureau of Statistics, provided an interpretation. 1. CPI increased slightly month-on-month, and the year-on-year increase expanded. In September, various regions and departments continued to coordinate the promotion of health incident prevention and control and economic and social development, and took various measures to ensure supply and stable prices of important people’s livelihood commodities, and the residents’ consumer market The operation is generally smooth. From a month-on-month perspective, CPI increased by 0.3% from a decrease of 0.1% in the previous month. Among them, food prices increased by 1.9%, an increase of 1.4 percentage points from the previous month, affecting the CPI increase by about 0.35 percentage points. In food, affected by the high temperature and lack of rain, the price of fresh vegetables rose by 6.8%, an increase of 4.8 percentage points from the previous month, affecting the CPI to rise by about 0.14 percentage points, accounting for more than 40% of the total month-on-month CPI increase; pork consumption demand rebounded seasonally, and Under bullish expectations, some farmers were reluctant to sell, and prices continued to rise. However, under the influence of measures such as the release of reserved pork, the increase slowed down in the middle and late periods, with an average increase of 5.4% for the whole month. Affected by the increase in consumer demand during the holidays, shrimp and crab prices continued to rise. The prices of fresh fruits and vegetables increased by 2.4% and 1.3% respectively. Non-food prices remained unchanged from a 0.3% decrease in the previous month. Among non-food products, the price of industrial consumer goods remained unchanged from a 0.7% decrease in the previous month. Affected by the decline in international oil prices, domestic gasoline and diesel prices fell by 1.2% and 1.3% respectively. There are new prices in summer and autumn, and clothing prices increased by 0.8%. Service prices fell by 0.1% from the same level last month. Affected by the end of summer vacation and the spread of health events, cross-regional travel decreased, and the prices of air tickets, hotel accommodations and travel agencies dropped by 9.9%, 2.9% and 1.3% respectively; local tourism and With the increase in peripheral travel, transportation rental prices increased by 4.0%. From a year-on-year perspective, CPI rose by 2.8%, an increase of 0.3 percentage points from the previous month. Among them, food prices increased by 8.8%, an increase of 2.7 percentage points from the previous month, affecting the CPI increase by about 1.56 percentage points. Among foods, the price of pork increased by 36.0%, an increase of 13.6 percentage points from the previous month; the prices of fresh fruits and vegetables increased by 17.8% and 12.1% respectively, and the prices of edible oil, poultry meat and grain increased by 8.3%, 7.9% and 3.6% respectively. , the increases have expanded. Non-food prices increased by 1.5%, a decrease of 0.2 percentage points from the previous month, affecting the CPI increase by approximately 1.21 percentage points. Among non-food products, the price of industrial consumer goods increased by 2.6%, a decrease of 0.4 percentage points from the previous month. Among them, the prices of gasoline, diesel and liquefied petroleum gas increased by 19.2%, 21.0% and 16.6% respectively, with the increase rates all declining; service prices increased by 0.5%. , the increase dropped by 0.2 percentage points from the previous month. According to estimates, in the 2.8% year-on-year CPI increase in September, the tail-off impact of last year’s price changes was approximately 0.8 percentage points, and the impact of new price increases was approximately 2.0 percentage points. The core CPI, which excludes food and energy prices, rose 0.6% year-on-year, 0.2 percentage points lower than the previous month. 2. The month-on-month decline in PPI narrowed, and the year-on-year increase continued to fall. In September, international crude oil and other bulk commodity prices continued to decline, demand in some domestic industries rebounded, and the price trend of industrial products fell overall, but the downward trend slowed down. From a month-on-month perspective, PPI fell by 0.1%, and the decline narrowed by 1.1 percentage points from the previous month. Among them, the price of means of production fell by 0.2%, the decline narrowed by 1.4 percentage points; the price of means of living turned from a decrease of 0.1% to an increase of 0.1%. The decline in international crude oil prices has driven down prices in related domestic industries, including a 3.8% drop in oil and natural gas mining prices, a 1.5% drop in chemical raw material and chemical products manufacturing prices, a 0.4% drop in chemical fiber manufacturing prices, and a 0.4% drop in petroleum, coal and other fuel processing industries. Prices fell 0.1%. Infrastructure investment projects are gradually implemented, demand in metal, cement and other related industries has rebounded, and price declines have narrowed. The prices in the ferrous metal smelting and rolling processing industry fell by 1.7%, and the decline narrowed by 2.4 percentage points; the prices in the non-ferrous metal smelting and rolling processing industry fell by 0.1%, and the decline narrowed by 1.9 percentage points; the prices in the non-metallic mineral products industry fell by 0.4%, and the decline narrowed by 1.9 percentage points. narrower by 0.6 percentage points. The demand for coal storage increased, and prices in the coal mining and washing industry increased by 0.5% from a decrease of 4.3%. In addition, prices in the agricultural and sideline food processing industry shifted from a decrease of 0.2% to an increase of 0.8%; prices in the electricity and heat production and supply industry increased by 1.3%, an increase of 1.0 percentage points. From a year-on-year perspective, PPI increased by 0.9%, a decrease of 1.4 percentage points from the previous month. Among them, the price of means of production increased by 0.6%, a decrease of 1.8 percentage points; the price of means of living increased by 1.8%, an increase of 0.2 percentage points. Among the 40 industrial industry categories, 30 experienced price increases, a decrease of 2 from the previous month. Among the major industries, price increases fell as follows: petroleum, coal and other fuel processing industry rose by 17.2%, down 4.1 percentage points; oil and natural gas extraction industry rose by 31.1%, down by 3.9 percentage points; chemical raw materials and chemical products manufacturing industry rose by 1.0% , down 3.5 percentage points. Prices in the coal mining and washing industry changed from an increase of 8.6% to a decrease of 2.7%, and the price of non-metallic mineral products industry changed from an increase of 1.4% to a decrease of 1.8%. Price declines expanded for: the ferrous metal smelting and rolling processing industry fell by 18.0%, and the non-ferrous metal smelting and rolling processing industry fell by 4.4%, both of which expanded the decline by 2.9 percentage points. Price increases increased in: the electricity and heat production and supply industry increased by 10.1%, and the agricultural and sideline food processing industry increased by 7.4%, both of which increased by 0.9 percentage points. According to calculations, in the 0.9% year-on-year increase in PPI in September, the upward impact of last year’s price changes was approximately 1.3 percentage points, and the impact of new price increases was approximately -0.4 percentage points.
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