新华全媒+丨CPI同比由降转升 部分行业价格呈企稳回升态势——透视6月份物价数据

Core Insights - The Consumer Price Index (CPI) in June turned from a decline to an increase of 0.1% year-on-year, indicating a marginal improvement in consumer prices [2] - The core CPI, excluding food and energy, rose by 0.7% year-on-year, marking the highest increase in nearly 14 months, reflecting a gradual recovery in consumer demand [3][4] CPI Analysis - The CPI's year-on-year increase was influenced by a rebound in industrial consumer goods prices and rising domestic fuel prices due to international oil price fluctuations [2] - The year-on-year decline in industrial consumer goods prices narrowed from 1.0% to 0.5%, reducing the downward pressure on CPI by approximately 0.18 percentage points [2] - Food prices decreased by 0.4% month-on-month, with specific items like freshwater fish and fresh vegetables seeing price increases [3] PPI Analysis - The Producer Price Index (PPI) fell by 0.4% month-on-month, with some industries showing signs of price stabilization and recovery [5] - The year-on-year decline in PPI expanded by 0.3 percentage points, but macroeconomic policies have improved supply-demand relationships in certain sectors [5][6] - Prices in the automotive manufacturing sector, including gasoline and new energy vehicles, showed a narrowing decline, indicating potential recovery in these industries [5][6] Policy Impact - The implementation of proactive macroeconomic policies has led to improvements in both manufacturing and non-manufacturing sectors, addressing supply-demand issues and supporting price trends [4] - The ongoing exit of outdated production capacity and the enhancement of product quality are expected to contribute to a gradual price recovery in the second half of the year [6]