食品价格拉动中国CPI同比涨幅创近21个月新高

Group 1 - The core viewpoint of the article highlights that China's Consumer Price Index (CPI) rose by 0.7% year-on-year in November, marking the highest increase since March 2024, primarily driven by a turnaround in food prices [1][2] - In November, food prices shifted from a year-on-year decline of 2.9% to an increase of 0.2%, contributing positively to the CPI by 0.04 percentage points [1] - Fresh vegetable prices saw a significant increase of 14.5% year-on-year after nine consecutive months of decline, while fresh fruit prices rose by 0.7% [1] Group 2 - The core CPI, excluding food and energy prices, increased by 1.2% year-on-year, maintaining a growth rate above 1% for three consecutive months [1] - Service prices and industrial consumer goods, excluding energy, rose by 0.7% and 2.1% year-on-year, respectively, indicating a recovery in consumer demand [1] - The expansion of domestic demand policies has positively impacted prices, with household appliances and clothing prices increasing by 4.9% and 2.0% year-on-year [1] Group 3 - On a month-on-month basis, the CPI decreased by 0.1% in November, primarily due to seasonal declines in service prices [2] - The chief economist of China Minsheng Bank noted that the year-on-year increase in CPI reflects a continuous recovery in consumer spending [2] - Looking ahead to 2026, it is anticipated that with the implementation of domestic demand expansion policies and improvements in market competition, prices may experience a moderate recovery [2]