2月物价数据解读：春节错月扰动读数，关注未来物价回升趋势

Group 1: CPI Analysis - February CPI decreased by 0.2% month-on-month (previous value 0.7%) and fell by 0.7% year-on-year (previous value 0.5%) [7] - Food prices dropped by 0.5% month-on-month (previous value 1.3%), while non-food prices decreased by 0.1% (previous value 0.6%) [7] - Core CPI turned negative, declining by 0.2% month-on-month and 0.1% year-on-year, with a five-year average of -0.1% [6] Group 2: PPI Trends - February PPI decreased by 0.1% month-on-month (previous value -0.2%) and fell by 2.2% year-on-year (previous value -2.3%) [24] - The decline in PPI is narrowing due to seasonal production recovery and slight price increases in consumer goods manufacturing [24] - PPI is expected to show a gradual recovery, with a forecast of -2.1% growth in March [34] Group 3: Price Influences - Fresh vegetables and pork prices fell by 3.8% and 1.9% respectively, while fresh fruit and seafood prices increased by 1.8% and 1.2% [10] - Post-holiday travel and family service demand decreased, leading to a 4.4% drop in tourism and family service prices [13] - Household appliance prices rose by 0.2% month-on-month, supported by government subsidy policies [14]