核心CPI温和上涨态势没有改变

Group 1: CPI Data Overview - In January, the Consumer Price Index (CPI) increased by 0.2% month-on-month and year-on-year, with the core CPI (excluding food and energy) rising by 0.8% year-on-year [1][2] - The CPI year-on-year growth rate has decreased due to the high base effect from the previous year's Spring Festival and a significant drop in energy prices, which fell by 5.0% [2][3] - The core CPI's month-on-month increase of 0.3% is the highest in the past six months, indicating a steady recovery in consumer demand [4] Group 2: PPI Data Overview - The Producer Price Index (PPI) rose by 0.4% month-on-month in January, marking the fourth consecutive month of increase, with the growth rate expanding by 0.2 percentage points compared to the previous month [7] - Year-on-year, the PPI decreased by 1.4%, but the decline has narrowed by 0.5 percentage points from the previous month [9] - Key industries such as non-ferrous metal mining and smelting saw significant price increases, with non-ferrous metal mining prices up by 22.7% year-on-year [9] Group 3: Price Influences and Trends - The increase in PPI is attributed to the ongoing construction of a unified national market, rising demand, and external factors affecting prices in the non-ferrous metal and petroleum sectors [7][8] - The prices of essential consumer goods remained stable before the Spring Festival, with food prices holding steady and certain categories like fresh vegetables and grains experiencing slight declines [2][4] - The adjustment of the CPI basket to reflect changes in consumer behavior, such as the increased purchase of new energy vehicles, is aimed at improving the accuracy of price indices [5][6]