《求是》杂志特约评论员：积极推动物价合理回升

Core Viewpoint - The article emphasizes the importance of maintaining a reasonable price level for economic stability and social harmony, highlighting the need for proactive macroeconomic policies to promote a gradual recovery of prices to a reasonable range [2][9]. Group 1: Understanding Price Dynamics - The public often perceives low prices as beneficial, equating them with increased purchasing power and reduced production costs, but this view overlooks the negative impacts of prolonged low prices on consumption and economic expectations [3][4]. - A cycle of low prices leading to weak consumer expectations and reduced spending can create a detrimental feedback loop, affecting corporate profits and household incomes [4][5]. - Low prices can also suppress long-term investment intentions, as declining sales prices may narrow profit margins and increase debt pressures on companies [4][6]. Group 2: Factors Influencing Low Prices - The current low price environment is influenced by both cyclical factors, such as post-pandemic income stagnation and global commodity price fluctuations, and structural factors, including demographic changes and shifts in supply and demand dynamics [6][16]. - The real estate market's adjustment and the maturation of emerging industries have contributed to a mismatch between supply and demand, further suppressing price increases [6][16]. - Institutional factors, such as inadequate market mechanisms for resource allocation and rigid pricing in essential services, hinder the ability of prices to reflect true supply and demand [6][16]. Group 3: International Context - There is a notable price disparity between China and other economies, with many developed countries experiencing high inflation while China maintains low price levels [7][17]. - The contrasting macroeconomic policies adopted by China and Western economies, particularly in response to the pandemic, have led to different inflationary outcomes, with China opting for a more restrained monetary policy [7][17]. Group 4: Recent Economic Indicators - Recent data indicates that the core consumer price index, excluding food and energy, has shown a year-on-year increase of over 1%, suggesting that the current low price situation may be temporary [8][18]. - The broad money supply has also maintained a growth rate of over 8%, indicating a stable economic environment that supports price recovery [8][18]. Group 5: Policy Recommendations - A systematic approach is necessary to promote a reasonable price recovery, relying on market-oriented strategies rather than direct administrative interventions [9][19]. - Policies should focus on stabilizing employment and income, enhancing market competition, and reforming pricing mechanisms to facilitate a gradual return to reasonable price levels [9][20]. - The government should implement proactive fiscal and monetary policies, including targeted spending and liquidity measures, to support economic stability and price recovery [10][20].