食品价格拉动下，CPI同比涨幅创2023年3月以来最高

Group 1 - In December 2025, China's Consumer Price Index (CPI) rose by 0.8% year-on-year, marking the highest increase since March 2023, with a 0.1 percentage point rise from November [1][2] - The increase in CPI was primarily driven by a significant rise in food prices, which increased by 1.1%, contributing approximately 0.17 percentage points to the CPI's year-on-year increase [2] - Pork prices decreased by 14.6% year-on-year, but the decline was less severe than the previous month, while fresh vegetable prices surged by 18.2%, reflecting a 3.7 percentage point increase from the prior month [2] Group 2 - The core CPI, excluding food and energy prices, rose by 1.2% year-on-year, maintaining a growth rate above 1% for four consecutive months [4] - Analysts predict that the CPI growth may decline in January 2026 due to a higher base from the previous year and the timing of the Spring Festival, with an expected annual CPI of around 0.4%, indicating a continued low inflation environment [4] - Economic experts suggest that policies aimed at boosting domestic demand and improving living standards will support price stability across various sectors, particularly in service consumption, which is expected to drive price increases in areas such as dining, accommodation, and healthcare [5]