9月份CPI环比上涨0.1% PPI环比连续两个月持平

Core Insights - The consumer market in September showed overall stability, with the Consumer Price Index (CPI) rising by 0.1% month-on-month and decreasing by 0.3% year-on-year, indicating a slight improvement in consumer prices [1] - The core CPI, excluding food and energy prices, increased by 1.0% year-on-year, marking the fifth consecutive month of growth in this metric [1] - The Producer Price Index (PPI) remained flat month-on-month and decreased by 2.3% year-on-year, with the decline narrowing by 0.6 percentage points compared to the previous month [1] CPI Analysis - The month-on-month CPI change shifted from flat to an increase of 0.1%, driven by a 0.7% rise in food prices, which contributed approximately 0.13 percentage points to the CPI increase [1] - Year-on-year, the CPI decreased by 0.3%, with the decline narrowing by 0.1 percentage points from the previous month [1] - Food prices fell by 4.4% year-on-year, which was the primary factor affecting the year-on-year CPI decline, contributing about 0.83 percentage points to the decrease [1] PPI Analysis - The PPI has remained flat for two consecutive months, indicating stability in producer prices [1] - Key characteristics of the PPI's performance include improvements in supply-demand structures leading to price stabilization in certain industries, and a decrease in domestic oil-related industry prices due to external factors [1]