“反内卷”会推动物价普遍上涨吗？答案是不会！

Group 1 - The "anti-involution" policy aims to address low-price disorderly competition rather than driving up prices, as the fundamental factor determining prices remains supply and demand, which is currently insufficient in the domestic market [1][4] - The "anti-involution" policy has been reinforced throughout the year, with various measures implemented to regulate low-price competition, including the revised Anti-Unfair Competition Law and the draft amendment to the Price Law [1][2] - The industrial producer price index (PPI) showed a year-on-year decline of -3.6% in July, but the month-on-month decline narrowed from -0.4% in June to -0.2%, indicating some stabilization in prices within certain industries [2][3] Group 2 - The core consumer price index (CPI) has been rising for three consecutive months, primarily due to reduced price wars in the automotive and home appliance sectors, along with seasonal increases in service consumption [2][3] - The effectiveness of the "anti-involution" policy is seen as a structural and moderate influence on prices, focusing on quality, service, and innovation rather than merely stimulating demand [4][5] - The recovery of prices is contingent upon the strength of demand recovery and the coordination of policies, with current consumer demand still lacking [3][4]