国家统计局：9月CPI环比由平转涨，PPI同比降幅继续收窄

Core Insights - In September 2025, the national consumer price index (CPI) decreased by 0.3% year-on-year, while it increased by 0.1% month-on-month [2][4] Group 1: Year-on-Year Changes - The CPI decline was influenced by a 4.4% decrease in food prices, while non-food prices rose by 0.7% [2][4] - Urban areas saw a 0.2% decrease in prices, while rural areas experienced a 0.5% decline [2] - Major contributors to the CPI decline included fresh vegetables (-13.7%), eggs (-11.9%), and pork (-17.0%) [4][5] Group 2: Month-on-Month Changes - In September, the CPI increased by 0.1% month-on-month, with urban prices remaining stable and rural prices rising by 0.2% [2][8] - Food prices rose by 0.7% month-on-month, with fresh vegetables increasing by 6.1% [8] - Other categories showed mixed results, with clothing prices up by 0.7% and transportation and communication prices down by 0.9% [8] Group 3: Industrial Producer Prices - The industrial producer price index (IPP) saw a year-on-year decline of 2.4%, primarily due to a 9.0% drop in mining prices [12] - Life goods prices decreased by 1.7%, impacting the overall IPP [12] - Month-on-month, the IPP remained stable, with mining prices increasing by 1.2% [15]