国家统计局解读2025年9月份CPI和PPI数据
Guo Jia Tong Ji Ju·2025-10-15 01:42

Group 1: CPI Analysis - The Consumer Price Index (CPI) increased by 0.1% month-on-month in September, reversing from a flat performance in the previous month [2] - Year-on-year, the CPI decreased by 0.3%, with the decline narrowing by 0.1 percentage points compared to the previous month [3] - Core CPI, excluding food and energy, rose by 1.0% year-on-year, marking the fifth consecutive month of growth [3] Group 2: Food and Energy Prices - Food prices increased by 0.7% month-on-month, contributing approximately 0.13 percentage points to the CPI increase, with seasonal price rises observed in fresh vegetables, eggs, fresh fruits, lamb, and beef [2] - Year-on-year, food prices fell by 4.4%, primarily driven by significant declines in pork, fresh vegetables, eggs, and fresh fruits [3] - Energy prices decreased by 2.7% year-on-year, impacting the CPI by approximately 0.20 percentage points [3] Group 3: PPI Analysis - The Producer Price Index (PPI) remained flat month-on-month for two consecutive months, with a year-on-year decline of 2.3%, narrowing by 0.6 percentage points from the previous month [4][6] - Improvements in supply-demand structures have stabilized prices in certain industries, such as coal processing and black metal smelting, which saw price increases [4] - The decline in PPI is influenced by external factors, including falling international oil prices, which affected domestic oil-related industry prices [5] Group 4: Industry-Specific Insights - The construction of a unified national market has led to a reduction in the year-on-year price decline across various industries, with notable improvements in coal processing, black metal smelting, and photovoltaic equipment manufacturing [6] - Upgrading industrial structures and releasing consumer potential have contributed to price increases in specific sectors, such as aircraft manufacturing and electronic materials [6] - The demand for quality and upgraded consumption has led to significant price increases in artisanal and ceremonial goods, as well as sports equipment [6]