2025年12月CPI同比上涨0.8% 回升至2023年3月以来最高

Group 1: CPI Analysis - In December 2025, the Consumer Price Index (CPI) increased by 0.8% year-on-year and 0.2% month-on-month, with the annual CPI remaining stable compared to the previous year [1][2] - The rise in CPI was primarily driven by an increase in food prices, which rose by 1.1% year-on-year, contributing approximately 0.17 percentage points to the CPI increase [2][3] - Core CPI, excluding food and energy, rose by 1.2% year-on-year, maintaining a growth rate above 1% for four consecutive months [3] Group 2: PPI Analysis - The Producer Price Index (PPI) increased by 0.2% month-on-month in December 2025, marking the third consecutive month of growth, while the year-on-year decline narrowed to 1.9% [4][6] - The month-on-month PPI increase was influenced by improved supply-demand dynamics and seasonal demand increases in certain industries, such as coal and gas production [4][5] - Input factors led to a divergence in price trends for domestic non-ferrous metals and oil-related industries, with non-ferrous metal prices rising due to international price increases, while oil-related prices fell due to declining international oil prices [5][6]