前三季度核心CPI持续回升，PPI降幅有所收窄

Group 1: Consumer Price Trends - Consumer prices remained stable in the first three quarters, with CPI decreasing by 0.1% year-on-year, consistent with the first half and the first quarter [2] - Core CPI, excluding food and energy, has shown a continuous recovery since March, rising to 1% in September, the highest in nearly 19 months [4] - Food prices saw a year-on-year decline of 1.8%, with fresh vegetable prices averaging a drop of 7.9% and pork prices shifting from an increase of 3.8% in the first half to a decrease of 2.9% in the first three quarters [2] Group 2: Energy Price Trends - Energy prices decreased by 3.3% year-on-year in the first three quarters, with gasoline prices dropping by 7.3% due to international oil price fluctuations [3] Group 3: Producer Price Trends - PPI decreased by 2.8% year-on-year in the first three quarters, with a narrowing decline of 0.3 percentage points in the third quarter compared to the second quarter [5] - The domestic market's competitive order has improved, leading to a recovery in prices for certain industries, such as coal processing and black metal smelting, which saw a reduction in year-on-year price declines [5] Group 4: External Influences on Prices - International oil prices have generally trended downward, impacting domestic oil-related industry prices, with a 9.9% decline in the oil and gas extraction industry [6] - Conversely, international non-ferrous metal prices have risen, leading to a 5.6% year-on-year increase in domestic non-ferrous metal smelting and rolling industries [6] Group 5: High-Tech Industry Developments - The development of high-tech industries and effective macro policies have driven price increases in certain sectors, such as integrated circuit packaging and testing, which rose by 3.0% year-on-year [7] - Upgraded consumer demand has also contributed to price increases in sectors like arts and crafts manufacturing, which saw a 12.7% rise [7]