The year-on-year increase in CPI and PPI in September has expanded

Beijing, October 14th (Reporter Liu Zhiqiang) - According to the National Bureau of Statistics, in September, the Consumer Price Index (CPI) rose by 0.2% month on month, a decrease of 0.2 percentage points from the previous month; Year on year increase of 0.9%, with an increase of 0.1 percentage points compared to the previous month; The core CPI, which excludes food and energy prices, increased by 1.0% year-on-year, the same increase as last month. The Producer Price Index (PPI) for industrial producers increased by 1.2% month on month, with an increase of 0.8 percentage points compared to the previous month; The year-on-year increase is 5.0%, which is 1.2 percentage points higher than the previous month.

From a month on month perspective, the national CPI rose by 0.2%, a decrease of 0.2 percentage points from the previous month. Among them, the service price increased by 0.1% last month to decrease by 0.2%, and the impact on the month on month CPI changed from an upward pull of about 0.04 percentage points last month to a downward pull of about 0.08 percentage points. The prices of industrial consumer goods rose by 0.7%, a decrease of 0.1 percentage points from the previous month, which affected the CPI's month on month increase by about 0.22 percentage points. Food prices rose by 0.4%, the same increase as last month, which is 0.8 percentage points lower than the seasonal level, affecting the CPI to rise by about 0.06 percentage points month on month.

From a year-on-year perspective, the national CPI rose by 0.9%, an increase of 0.1 percentage points compared to the previous month. Among them, gasoline prices rose by 16.6%, an increase of 7.3 percentage points, affecting the year-on-year increase of CPI by about 0.47 percentage points, and driving the increase in energy prices from 4.1% last month to 7.3% this month. Excluding energy, the prices of industrial consumer goods increased by 1.6%, with a decrease of 0.2 percentage points, affecting a year-on-year increase of approximately 0.39 percentage points in CPI. The service price increased by 0.8%, the same as last month, which affected the year-on-year increase of CPI by about 0.40 percentage points. Food prices fell by 1.7%, an increase of 0.3 percentage points from the previous month, which affected a year-on-year decrease of about 0.29 percentage points in CPI.

From a month on month perspective, the national PPI rose by 1.2%, an increase of 0.8 percentage points from the previous month. The main characteristics of the month on month PPI operation are: firstly, the upward trend in international crude oil and non-ferrous metal prices has driven up prices in related domestic industries; Secondly, changes in the supply and demand situation of some energy and raw material industries have driven up prices; Thirdly, the accelerated development of artificial intelligence, computer and electronics collaboration and other fields has driven up demand and prices in some industries. The prices of electrical machinery and equipment manufacturing, computer communication and other electronic equipment manufacturing have all increased by 0.4%, and the combined impact of the two industries has led to a month on month increase of about 0.07 percentage points in PPI. From a year-on-year perspective, the national PPI rose by 5.0%, an increase of 1.2 percentage points from the previous month.