国内核心CPI同比涨幅连续第4个月扩大

Group 1 - The Consumer Price Index (CPI) remained flat month-on-month in August, with a year-on-year decline of 0.4%, while the core CPI, excluding food and energy, rose by 0.9%, marking the fourth consecutive month of expansion [1] - The Producer Price Index (PPI) showed a month-on-month stabilization after a 0.2% decline last month, with a year-on-year decrease of 2.9% [1] - The decline in food, tobacco, and alcohol prices by 2.5% year-on-year contributed approximately 0.72 percentage points to the CPI decrease, indicating weak food consumption and sufficient supply of agricultural products [1] Group 2 - The narrowing of the PPI year-on-year decline by 0.7 percentage points compared to the previous month is attributed to effective domestic demand expansion and consumption promotion policies [2] - The optimization of market competition order has led to a reduction in the year-on-year price decline in related industries, with ongoing efforts in capacity governance and the establishment of a unified national market [2] - The growth of new economic drivers and increased demand for upgraded consumption have positively impacted the prices in certain industries [2] Group 3 - The expectation for the future PPI indicates that the low base effect will continue to influence short-term trends, but external uncertainties may affect the sustainability of PPI recovery [2] - The overall focus of future policies may be on achieving stable price increases, improving corporate profitability, and enhancing economic momentum through effective domestic price transmission mechanisms [2]