权威数读丨CPI环比上涨0.4%，扩内需政策效应持续显现

Group 1 - In July, the national consumer price index (CPI) remained flat year-on-year, while it increased by 0.4% month-on-month, reversing a previous decline of 0.1% [1][3] - The core CPI, excluding food and energy prices, rose by 0.8% year-on-year, marking an expansion in growth for three consecutive months [3] - Service prices increased by 0.6% month-on-month, contributing approximately 0.26 percentage points to the CPI's month-on-month increase, accounting for over 60% of the total CPI rise [6] Group 2 - The surge in travel-related consumption during the summer vacation season led to significant price increases in various sectors, with airfares, tourism, hotel accommodations, and vehicle rental fees rising by 17.9%, 9.1%, 6.9%, and 4.4% respectively [9] - Industrial consumer goods prices increased by 0.5% month-on-month, with the growth rate expanding by 0.4 percentage points compared to the previous month, contributing approximately 0.17 percentage points to the CPI's month-on-month increase [13] - The CPI remained flat year-on-year due to lower food prices, with fresh vegetable prices declining by 7.6% year-on-year, a drop that expanded by 7.2 percentage points compared to the previous month, while fresh fruit prices increased by 2.8%, with the growth rate decreasing by 3.3 percentage points [15]