Group 1: Consumer Price Index (CPI) Trends - In November, the national Consumer Price Index (CPI) slightly decreased by 0.1% month-on-month but increased by 0.7% year-on-year, marking the highest growth since March 2024, with a 0.5 percentage point increase from the previous month [1] - The rise in CPI year-on-year was primarily driven by a shift in food prices from a decline to an increase, with food prices changing from a decrease of 2.9% to an increase of 0.2%, impacting CPI by approximately 0.04 percentage points [1] - Fresh vegetable prices saw a significant turnaround, increasing by 14.5% after a 9-month decline, contributing an additional 0.49 percentage points to the CPI [1] Group 2: Core CPI and Industrial Prices - The core CPI, excluding food and energy, rose by 1.2% year-on-year, maintaining a growth rate above 1% for three consecutive months [2] - Service prices and industrial consumer goods prices, excluding energy, increased by 0.7% and 2.1%, respectively, contributing approximately 0.29 and 0.53 percentage points to the CPI [2] - The Producer Price Index (PPI) increased by 0.1% month-on-month but decreased by 2.2% year-on-year, with the decline attributed to a high comparison base from the previous year [2] Group 3: Industry-Specific Price Changes - The "involution" competition in key industries has shown improvement, with price declines in coal mining, photovoltaic equipment manufacturing, and lithium-ion battery manufacturing narrowing over several months [3] - Emerging industries such as new materials and intelligent technology are driving price increases, with external storage devices and components rising by 13.9% year-on-year [4] - Consumer demand has been effectively released, leading to price increases in related industries, such as a 20.6% rise in the manufacturing of arts and crafts and ceremonial goods [5]
CPI同比涨幅扩大 核心CPI继续上涨
Xin Hua She·2025-12-11 00:31