Group 1: Consumer Price Index (CPI) Analysis - In June, the Consumer Price Index (CPI) in Guangdong showed a year-on-year decline of 0.4%, consistent with the previous month, while the month-on-month decline expanded [2][3] - Food prices decreased by 1.0% year-on-year, with a larger decline of 0.2 percentage points compared to the previous month, contributing approximately 0.20 percentage points to the CPI decline [2] - Non-food prices also saw a year-on-year decrease of 0.3%, maintaining the same decline as the previous month, impacting the CPI by about 0.21 percentage points [2] Group 2: Producer Price Index (PPI) Analysis - In June, the Producer Price Index (PPI) in Guangdong experienced a year-on-year decline of 1.8%, with the decline remaining unchanged from the previous month [4] - The prices of production materials fell by 2.5% year-on-year, while living materials saw a decrease of 0.4%, affecting the overall PPI by 1.63 and 0.12 percentage points respectively [4] - The PPI showed a month-on-month decline of 0.3%, with production materials prices decreasing by 0.4% and living materials prices down by 0.1% [5]

Core Insights - The Consumer Price Index (CPI) in June increased by 0.1% year-on-year, ending a four-month decline, primarily driven by a rebound in industrial consumer goods prices [2][3] - The Producer Price Index (PPI) showed a stable trend in certain industries, despite a year-on-year decline, indicating improvements in supply-demand relationships [5][6] CPI Analysis - In June, the CPI rose 0.1% year-on-year, with food prices decreasing by 0.3% and non-food prices increasing by 0.1% [2] - The year-on-year decline in industrial consumer goods prices narrowed from 1.0% to 0.5%, contributing less to the CPI's downward pressure [2] - Notably, gold and platinum jewelry prices increased by 39.2% and 15.9% respectively, collectively contributing approximately 0.21 percentage points to the CPI increase [2] PPI Trends - The PPI's month-on-month decline remained unchanged, but the year-on-year decline widened by 0.3 percentage points [5] - Certain industries, such as the manufacturing of gasoline and new energy vehicles, saw price increases of 0.5% and 0.3% respectively, with year-on-year declines narrowing [5] - The prices of photovoltaic equipment and lithium-ion batteries decreased by 10.9% and 4.8% respectively, but the rate of decline has slowed [5][6] Sector-Specific Insights - The rental demand for housing increased during the graduation season, leading to a 0.1% rise in rental prices [4] - High-tech sectors are experiencing price increases, with integrated circuit packaging and testing prices rising by 3.1% [6] - The prices of daily necessities and clothing increased by 0.8% and 0.1% respectively, reflecting a growing demand for high-quality living [5][6]

上天天基金APP搜索【777】注册即可 领500元券包，优选基金10元起投！限量发放！先到 先得！ 国家统计局7月9日发布数据显示，6月份，扩内需、促消费政策持续显效，居民消费价格指数（CPI） 同比由上月下降转为上涨0.1%；环比下降0.1%，降幅比上月收窄0.1个百分点。 扣除食品和能源价格的 核心CPI同比继续回升，上涨0.7%，创近14个月以来新高。 6月份，工业生产者出厂价格指数（PPI）环比下降0.4%，降幅与上月相同；同比下降3.6%，降幅比上 月扩大0.3个百分点。 7月9日早盘，A股三大指数震荡走强，上证指数时隔8个月重回3500点。 CPI同比由降转涨 "6月份，CPI同比上涨0.1%，为连续下降4个月后转涨。"国家统计局城市司首席统计师董莉娟表示， CPI同比由降转涨主要受工业消费品价格有所回升影响。 图片来源：国家统计局 数据显示， 6月份，工业消费品价格同比降幅由上月的1%收窄至0.5%，对CPI同比的下拉影响比上月 减少约0.18个百分点 。其中，促消费政策效应持续显现，6月份，文娱耐用消费品、家用纺织品和家用 器具价格同比分别上涨2%、2%和1%；汽车价格降幅逐步收窄，燃油小汽车 ...

Group 1: CPI Analysis - In June, the Consumer Price Index (CPI) turned from a decline to an increase of 0.1% year-on-year after four consecutive months of decline [3][4] - The core CPI, excluding food and energy prices, rose by 0.7% year-on-year, marking a 14-month high [7] - The decline in industrial consumer goods prices narrowed from 1% to 0.5% year-on-year, reducing the downward pressure on CPI by approximately 0.18 percentage points [6] Group 2: PPI Analysis - The Producer Price Index (PPI) fell by 0.4% month-on-month and decreased by 3.6% year-on-year, with the year-on-year decline widening by 0.3 percentage points compared to the previous month [6][10] - Factors contributing to the PPI decline include seasonal price decreases in raw materials, increased green energy leading to lower energy prices, and downward pressure on prices in export-oriented industries due to a slowdown in global trade [10][11] - The construction and infrastructure sectors faced challenges due to seasonal weather impacts, affecting project progress and contributing to the PPI decline [10]

Core Insights - In June, the Consumer Price Index (CPI) turned from a decline to an increase of 0.1% year-on-year after four consecutive months of decline, primarily driven by a rebound in industrial consumer goods prices [1] - The month-on-month CPI decreased by 0.1%, with the decline narrowing by 0.1 percentage points compared to the previous month [1] - The core CPI, excluding food and energy prices, continued to recover, rising by 0.7% year-on-year [1] - The Producer Price Index (PPI) decreased by 0.4% month-on-month, maintaining the same decline as the previous month, while year-on-year it fell by 3.6%, with the decline widening by 0.3 percentage points compared to the previous month [1] - The decrease in food prices was less than seasonal expectations, indicating some stability in the market [1] - Certain industries showed signs of price stabilization and recovery [1]

Core Insights - In May 2025, Shenzhen's Producer Price Index (PPI) remained unchanged year-on-year, with a month-on-month increase of 0.1% [1] - The average PPI from January to May showed a year-on-year increase of 0.4%, while the purchasing price index increased by 0.3% [1] Group 1: Producer Prices - Year-on-year, the prices of production materials decreased by 1.5%, with mining industry prices dropping by 23.5% and processing industry prices down by 1.3%. Raw materials prices increased by 1.0% [3] - Year-on-year, consumer goods prices increased by 3.1%, with clothing prices down by 1.4%, durable goods prices stable, food prices up by 0.3%, and general daily goods prices up by 15.0% [3] - Month-on-month, production materials prices increased by 0.1%, with mining industry prices down by 7.3% and raw materials prices up by 2.5%. Consumer goods prices increased by 0.2% [3] Group 2: Purchasing Prices - In the purchasing price index, prices for building materials and non-metallic products decreased by 7.1%, fuel and power prices decreased by 6.8%, and wood and pulp prices decreased by 5.1% [3] - Other industrial raw materials and semi-finished products saw a price decrease of 1.8%, while chemical raw materials increased by 0.9% and textile raw materials increased by 1.0% [3] - Notably, prices for non-ferrous metals and wires increased by 17.9% [3]

Group 1: Consumer Price Index (CPI) Analysis - In May 2025, Guangdong's Consumer Price Index (CPI) decreased by 0.4% year-on-year, maintaining the same decline as the previous month, and a month-on-month decrease of 0.1% compared to a 0.3% increase in the previous month, resulting in a fluctuation of 0.4 percentage points [1] - The average CPI for January to May 2025 was down 0.4% compared to the same period last year [1] - Factors influencing the CPI included a 4.0% increase in fresh fruit prices due to the arrival of lychee season and increased demand from warmer weather, and a 2.3% increase in aquatic product prices due to reduced market supply during the fishing ban and increased demand during holidays, collectively contributing approximately 0.15 percentage points to the CPI increase [1] Group 2: Producer Price Index (PPI) Analysis - In May 2025, Guangdong's Producer Price Index (PPI) decreased by 1.8% year-on-year, with the decline widening by 0.4 percentage points compared to the previous month, and a month-on-month decrease of 0.2% [1] - The average PPI for January to May 2025 was down 1.3% year-on-year [1] - The Industrial Producer Purchase Price Index (IPI) also saw a year-on-year decrease of 3.1% and a month-on-month decrease of 0.4% [1] - The decline in PPI was influenced by falling international crude oil prices, overcapacity in certain industries, and insufficient downstream market demand [1][2] - In the PPI survey of 38 major industries, 6 industries saw price increases, 26 experienced price declines, and 6 remained stable, indicating an industry price increase rate of 15.8% [2] - Specific industries affected included a 3.6% decrease in oil and gas extraction prices, a 3.0% decrease in petroleum, coal, and other fuel processing prices, and a 4.1% decrease in black metal mining prices due to reduced demand in the construction and real estate sectors [2]

Group 1 - In May, the Consumer Price Index (CPI) in Guangdong decreased by 0.4% year-on-year, influenced by fluctuations in international oil prices and the end of the May Day holiday [1][3] - The core CPI, excluding food and energy prices, increased by 0.4% year-on-year, with the growth rate expanding by 0.3 percentage points compared to the previous month [1][3] Group 2 - Food prices increased by 0.3% month-on-month, with fresh fruit prices rising by 4.0% due to increased demand from warmer weather [2] - The prices of aquatic products rose by 2.3% due to reduced market supply during the fishing ban and increased demand during holidays, contributing approximately 0.15 percentage points to the CPI [2] - Non-food prices decreased by 0.2% month-on-month, with travel agency fees increasing by 2.6% due to holiday travel demand [2] Group 3 - Year-on-year, food prices fell by 0.8%, with fresh fruit, pork, and aquatic product prices rising by 5.7%, 4.5%, and 2.5% respectively, contributing approximately 0.24 percentage points to the CPI [3] - The price of fresh vegetables dropped by 11.5%, impacting the CPI by approximately 0.26 percentage points [3] - Non-food prices decreased by 0.3% year-on-year, with gold jewelry prices increasing by 42.3%, contributing approximately 0.60 percentage points to the CPI [3] Group 4 - In May, the Producer Price Index (PPI) in Guangdong decreased by 0.2% month-on-month, with the decline narrowing by 0.1 percentage points compared to the previous month [4] - Prices for production materials fell by 0.4%, while prices for living materials shifted from a 0.1% decline to a 0.1% increase [4] - The oil and gas extraction industry saw a price decrease of 3.6%, influenced by falling international crude oil prices [4]

Core Insights - In May, the Consumer Price Index (CPI) decreased by 0.2% month-on-month and by 0.1% year-on-year [1] - The core CPI, excluding food and energy prices, increased by 0.6% year-on-year, with the growth rate expanding by 0.1 percentage points compared to the previous month [1] - The Producer Price Index (PPI) fell by 0.4% month-on-month, maintaining the same decline as the previous month, and decreased by 3.3% year-on-year, with the decline widening by 0.6 percentage points compared to the previous month [1]

Group 1: CPI and PPI Trends - In April, the Consumer Price Index (CPI) shifted from a month-on-month decline of 0.4% to an increase of 0.1%, while the year-on-year CPI decreased by 0.1%, maintaining the same decline as the previous month [1] - The core CPI increased by 0.2% month-on-month and rose by 0.5% year-on-year, indicating stable growth [1][2] - The Producer Price Index (PPI) fell by 0.4% month-on-month and decreased by 2.7% year-on-year, with the decline expanding by 0.2 percentage points compared to the previous month [1][4] Group 2: Influencing Factors on Prices - The rise in CPI was primarily driven by increases in food and travel service prices, with food prices up by 0.2% month-on-month, exceeding seasonal levels by 1.4 percentage points [2] - International commodity price declines, particularly in oil and gas, have negatively impacted domestic prices, contributing to the PPI's downward trend [1][4] - The impact of U.S. tariff policies has led to a decrease in international crude oil and metal prices, which has been transmitted to domestic industries [4][5] Group 3: Future Outlook - Analysts expect PPI to remain under pressure due to tariff issues, while CPI may experience a mild recovery driven by demand rebound and seasonal food price stabilization [1][5] - The implementation of macroeconomic policies aimed at boosting consumption and investment is anticipated to positively influence certain sectors, leading to price increases in high-tech industries [5] - Despite external pressures, domestic policies are expected to support a reasonable price level, with a slight narrowing of PPI's year-on-year decline projected for the second quarter [5]