国家统计局发布数据！年内首次回正

Group 1: CPI Analysis - In October, the Consumer Price Index (CPI) increased by 0.2% month-on-month and year-on-year, driven by policies to expand domestic demand and the impact of the National Day and Mid-Autumn Festival holidays [1][2] - The core CPI, excluding food and energy prices, rose by 1.2% year-on-year, marking the sixth consecutive month of growth [1][2] - Significant increases in vegetable prices, which rose by 4.3% month-on-month, contributed to the CPI's year-on-year improvement, with the decline in pork and fruit prices also easing [2][3] Group 2: PPI Analysis - The Producer Price Index (PPI) saw a month-on-month increase of 0.1% in October, marking the first rise of the year, despite a year-on-year decline of 2.1% [1][4] - The improvement in supply-demand relationships in certain industries, driven by anti-involution policies, has supported price increases in sectors such as coal, cement, and photovoltaic equipment [4][5] - Specific price increases included a 1.6% rise in coal mining and washing, a 0.8% increase in coal processing, and a 0.6% rise in photovoltaic equipment manufacturing [4][5] Group 3: Future Outlook - Analysts expect the PPI to steadily recover year-on-year by 2026, while the CPI is anticipated to remain at low levels, indicating a moderate inflationary trend [6]