10月中国物价指数释放积极信号

Core Viewpoint - The article highlights the positive signals in China's economic recovery as indicated by the October inflation data, with improvements in both CPI and PPI reflecting enhanced domestic demand and supply dynamics [3][19]. CPI Analysis - In October, the Consumer Price Index (CPI) shifted from a 0.3% decline in September to a 0.2% increase, with food prices decreasing by 2.9%, but the decline narrowed by 1.5 percentage points compared to September [5][4]. - The core CPI, excluding food and energy, rose by 1.2%, marking the highest increase since March 2024 and indicating a steady recovery in domestic consumption, particularly in service sectors [7][4]. PPI Analysis - The Producer Price Index (PPI) saw a 2.1% year-on-year decline in October, but the rate of decline narrowed by 0.2 percentage points for the third consecutive month, suggesting a gradual improvement in industrial pricing [11][10]. - Factors contributing to the narrowing PPI decline include ongoing capacity management in key industries and the release of consumption potential, leading to price increases in certain sectors [13][10]. Future Economic Outlook - The article emphasizes the need for continued policy support to sustain economic recovery, with a focus on enhancing domestic demand and consumer spending [19][16]. - The government's strategy includes boosting effective investment and consumer spending, with an emphasis on improving the income distribution to enhance consumer purchasing power [18][17].