PPI环比“两连涨”，统计局：支持价格合理回升的积极因素继续累积

Core Viewpoint - The Producer Price Index (PPI) in November continued to rise month-on-month for the second consecutive month, with the year-on-year decline stabilizing compared to the previous month, indicating a trend of narrowing year-on-year declines since August [1][3]. Group 1: Factors Influencing PPI - Consumption upgrade is driving price increases, with notable price rises in sports and cultural goods. In November, the price of arts and crafts and ceremonial goods manufacturing rose by 20.6% year-on-year, an increase of 2.2 percentage points from the previous month. The price of sports balls manufacturing increased by 4.3%, up by 1 percentage point from the previous month [1][3]. - The development of emerging industries is positive, with accelerated industrial transformation towards intelligence and sustainability. In November, the price of non-ferrous metal smelting and rolling increased by 7.8% year-on-year, up by 1 percentage point from the previous month. Prices for graphite and carbon products rose by 3.8%, and integrated circuit manufacturing prices increased by 1.7% [1][3]. Group 2: Market Competition and Policy Implications - The effects of regulating market competition are becoming evident, with the year-on-year price declines for photovoltaic equipment and components, lithium-ion batteries, and new energy vehicles narrowing by 2.0, 0.7, and 0.6 percentage points, respectively [2][4]. - The current PPI is still declining year-on-year, and further efforts are needed to solidify the foundation for a reasonable price recovery. Future strategies include expanding domestic demand, strengthening the domestic circulation, and improving supply-demand relationships to promote reasonable price recovery and enhance business operations [5].