Group 1: CPI Analysis - In August 2025, the CPI turned negative at -0.4%, down from 0.0% in the previous month, with a cumulative decline of 0.1% from January to August[1][2] - The significant drop in food prices, particularly vegetables, pork, and fruits, contributed to the CPI decline, with vegetable prices showing a year-on-year drop of -15.2%[3][4] - Core CPI, excluding volatile food and energy prices, rose to 0.9% in August, indicating a slight recovery in basic price levels[5][6] Group 2: PPI Analysis - The PPI in August decreased by 2.9% year-on-year, but the decline rate narrowed by 0.7 percentage points compared to the previous month, marking the first reduction in the decline since March[7][8] - The PPI remained flat month-on-month, ending an eight-month streak of declines, primarily due to improved supply-demand dynamics in certain industries[9][10] - Forecasts suggest that the PPI decline will further narrow to approximately -2.3% in September, with expectations of a reduction to below -2.0% in the fourth quarter[11][12]
2025年8月物价数据点评：食品价格偏弱带动8月CPI同比由平转负，PPI同比降幅进入收窄过程
Dong Fang Jin Cheng·2025-09-10 04:46