中国8月CPI同比下降0.4%，环比持平

Core Points - In August 2025, the national consumer price index (CPI) decreased by 0.4% year-on-year, with urban areas down 0.3% and rural areas down 0.6% [1] - Food prices fell by 4.3%, while non-food prices increased by 0.5% [1] - The average CPI from January to August 2025 decreased by 0.1% compared to the same period last year [1] Year-on-Year Price Changes - In August, the prices of food, tobacco, and alcohol decreased by 2.5%, contributing approximately 0.72 percentage points to the CPI decline [3] - Fresh vegetable prices dropped by 15.2%, impacting the CPI by about 0.37 percentage points; egg prices fell by 12.4%, affecting the CPI by 0.08 percentage points; and pork prices decreased by 16.1%, contributing 0.24 percentage points to the CPI decline [3] - Other categories showed six price increases and one decrease, with notable increases in other goods and services (8.6%), clothing (1.8%), and living goods and services (1.8%) [3] Month-on-Month Price Changes - In August, food, tobacco, and alcohol prices increased by 0.3%, contributing approximately 0.09 percentage points to the CPI [6] - Fresh vegetable prices rose by 8.5%, impacting the CPI by 0.16 percentage points, while fruit prices decreased by 2.8%, affecting the CPI by 0.06 percentage points [6] - Other categories showed mixed results, with healthcare prices increasing by 0.3% and transportation and communication prices decreasing by 0.3% [6] Summary of Price Changes - The overall CPI remained flat month-on-month, with urban prices unchanged and rural prices up by 0.1% [1][8] - Food prices increased by 0.5% month-on-month, while non-food prices decreased by 0.1% [1][8] - The CPI for services remained unchanged, while the CPI excluding food and energy increased by 0.9% year-on-year [8]