Shi Yuxin, a journalist, Chen Xu, editor of every book.
According to the data released by the National Bureau of Statistics on May 11, the national consumer price (CPI) rose 0% in April compared with the same period last year.Graypoker.3%, up 0.1% from the previous month. Core CPI, excluding food and energy prices, rose 0.2 per cent month-on-month, 0.7 per cent year-on-year, or 0.1 per cent higher than last month.
A reporter from the Daily Business News noted that consumer demand continued to recover in April, and national CPI maintained positive growth for three consecutive months compared with the same period last month, an increase of 0.2 percentage points over the previous month. On a month-on-month basis, CPI rose 0.1 per cent from a 1.0 per cent decline in March.
Dong Lijuan, chief statistician of the City Department of the National Bureau of Statistics, said that from a month-on-month point of view, the prices of air tickets, transportation rentals, hotel accommodation and tourism all increased from 15.3%, 9.0%, 4.0% and 2.7% respectively due to the increase in travel during the short holiday.
CPI rose more than expected.
CPI rose 0.3 per cent in April from a year earlier, according to the National Bureau of Statistics. Zhao Wei, chief economist at CICC Securities, told the Daily Economic News that CPI rose 0.2 percentage points year-on-year to 0.3 per cent in April, higher than the 0.2 per cent expected by the market. The higher-than-expected rise in CPI is mainly supported by non-food prices.
Feng Lin, director of the research and development department of Oriental Jincheng, said that due to factors such as the rise in international crude oil prices and the sinking of the base in the same period last year, non-food prices increased year-on-year in April.Graypoker0.2 percent was the main reason for the overall increase in CPI for the month.
Ma Hong, senior researcher of Guangkai Chief Industrial Research Institute, told the Daily Economic News reporter Wechat that CPI rose moderately in April compared with the same period last year, with the core CPI being the main reason for the pull. The expansion of demand for services has become the main driver of core inflation. Among them, the national tourism demand is still strong; under the aging trend, the market demand for drugs and domestic services is growing steadily.
Feng Lin said that looking ahead, due to the low price base in the same period last year and other factors, household consumption still has the potential to repair. In addition, the early rise in international crude oil and gold prices will continue to be transmitted to China, and it is expected that CPI will expand slightly to about 0.5% in May compared with the same period last year; in the later period, with the "pig cycle" price bottoming out, consumer repair and price base continuing to be low, CPI year-on-year increase also has a slightly expanding trend.
PPI fell 2.5% in April from a year earlier.
Data show that producer prices (PPI) across the country fell 2.5% in April from a year earlier, a decline of 0.3 percentage points from the previous month.
Ma Hong said that the improvement in external demand, the increase in imports of primary resource goods and the repair of prices of manufactured goods for daily consumption have become the main factors driving the decline in PPI compared with the same period last year, while the decline in the real estate market is still the main drag on the prices of consumer durables.
On a month-on-month basis, PPI fell by 0.2%, an increase of 0.1% over the previous month. Of this total, the price of the means of production fell by 0.2%, an increase of 0.1 percentage points, and the price of the means of subsistence dropped by 0.1%, the same rate as last month.
Dong Lijuan said that due to the upward impact of international crude oil and non-ferrous metal prices, the prices of the domestic oil and gas mining industry, oil and coal and other fuel processing industries rose 3.4% and 1.0% respectively. The supply of coal is adequate, the demand for thermal coal has fallen seasonally, and the prices of coal mining and washing industries have fallen by 3.0%. Since mid-April, the supply and demand of the steel market has improved slightly, the price has risen, the monthly average has still declined, and the price of the ferrous metal smelting and Calendering industry has dropped by 2.5%.
Feng Lin said that against the backdrop of rising prices of international crude oil and overseas-priced copper, aluminum and other non-ferrous metals, the month-on-month decline in PPI expanded in April and was in negative growth for the 19th consecutive month compared with the same period last year, mainly due to falling prices of domestically priced steel, cement, coal and other commodities. Looking forward to May, driven by the rebound in the prices of industrial products such as steel and cement, the rebound in coal prices and the high prices of non-ferrous metals, PPI is expected to stop falling and rebounding from the previous month. However, due to the continuing downturn in real estate investment, the driving force for a sharp rise in domestic industrial product prices is still insufficient, coupled with a sharp correction in international crude oil prices since late April, the month-on-month increase in PPI in May is expected to be limited. Generally speaking, whether PPI can maintain positive growth in the second half of the year and whether the cumulative PPI of the whole year can be corrected over the same period last year will mainly depend on the follow-up trend of the domestic real estate industry and the progress of the implementation of various measures to stabilize growth.
