扩内需等政策效应继续显现

Group 1: Economic Indicators - In October, the Consumer Price Index (CPI) increased by 0.2% month-on-month and year-on-year, reflecting a recovery in domestic consumption and improved economic circulation [3][4] - The core CPI, excluding food and energy, rose by 1.2% year-on-year, marking the highest increase since March 2024 and indicating a steady recovery in service consumption [4][5] - The Producer Price Index (PPI) saw a month-on-month increase of 0.1%, the first rise of the year, while the year-on-year decline narrowed to 2.1%, showing signs of price stabilization in key industries [6][8] Group 2: Sector Performance - The increase in CPI was driven by higher service prices, particularly in accommodation and travel, with hotel prices rising by 8.6% and airfares by 4.5% during the holiday season [4][5] - Key industries such as coal mining, photovoltaic equipment manufacturing, and cement production experienced price increases due to improved supply-demand relationships [6][7] - The manufacturing sector is witnessing a shift towards high-end, intelligent, and green development, with prices in sectors like non-ferrous metal smelting rising by 6.8% [7][8] Group 3: Future Outlook - Experts predict a moderate recovery in overall price levels, supported by macroeconomic policies and a steady expansion of domestic demand [8] - The CPI is expected to rise moderately, characterized by strong food prices and stable core inflation, while PPI declines are anticipated to narrow further [8]