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国家统计局:8月份食品价格同比下降4.3%,降幅比上月扩大2.7个百分点
Sou Hu Cai Jing· 2025-09-15 06:55
Core Viewpoint - In August 2023, food prices in China experienced a year-on-year decline of 4.3%, which is a significant increase in the rate of decline compared to the previous month, impacting the Consumer Price Index (CPI) negatively [1] Economic Indicators - The decline in food prices was primarily driven by a drop in pork, fresh vegetables, and egg prices, each showing a year-on-year decrease of over 10% [1] - The core CPI, excluding food and energy, rose by 0.9% year-on-year, marking a 0.1 percentage point increase from the previous month and indicating a continuous expansion in the growth rate for four consecutive months [1] - The overall impact of the food price decline on the CPI was a reduction of 0.51 percentage points compared to the previous month, highlighting the ongoing positive changes in pricing dynamics [1]
【广发宏观贺骁束】高频数据下的8月经济:价格篇
郭磊宏观茶座· 2025-09-02 07:56
广发证券 资深宏观分析师 贺骁束 hexiaoshu@ gf.com.cn 广发宏观郭磊团队 摘要 第一, 8月生意社BPI工业原材料价格指数持平,能源价格受地缘形势缓和维持弱势,有色分项价格收涨。截 至8月31日,生意社BPI指数录得869点,相较7月末持平。其中能源、有色价格(月环比)分别为-0.2%、 1.4%。8月生意社大宗榜环比上涨、下跌的品种分别为139种、200种,其中上涨品种集中于化工(88 种)、有色(16种)。 第四, 新兴产业链价格多数收涨。 8 月光伏行业综合指数( SPI )环比回升 5.1% (前值 16.3% ),其 中多晶硅分项上涨 2.2% ;碳酸锂期货结算价环比回升 14.3% 。表征半导体(内存)景气度的 DXI 指数延 续强势, DXI 指数(代表 DRAM 即内存产值变化景气度)环比上涨 2.4% 。 第二, 8 月内需定价大宗商品涨跌互现。其中动力煤现货价、焦煤期货价延续强势,月环比涨幅分别为 6.6% 、 8.0% ,螺纹、玻璃期货价环比收跌,中国化工产品价格指数月环比回落 2.3% 。南华综合指数月 末值环比回落 0.6% ;月均值同比录得 3.3% (前值 - ...
国家统计局:CPI同比持平,主要受食品价格较低影响
Core Viewpoint - The Consumer Price Index (CPI) remained flat year-on-year in July 2025, primarily influenced by lower food prices [1] Summary by Relevant Sections CPI Analysis - The CPI year-on-year was unchanged, largely due to a 1.6% decline in food prices compared to the same period last year, with the decline rate expanding by 1.3 percentage points from the previous month [1] - The impact of food prices on the CPI year-on-year decreased by approximately 0.29 percentage points, with the downward influence increasing by about 0.24 percentage points compared to the previous month [1] Food Price Dynamics - Fresh vegetable prices saw a significant year-on-year decline of 7.6%, with the drop rate widening by 7.2 percentage points from the previous month [1] - Fresh fruit prices increased by 2.8% year-on-year, but the growth rate decreased by 3.3 percentage points compared to the previous month [1] - The combined downward impact of fresh vegetables and fruits on the CPI year-on-year increased by approximately 0.21 percentage points, which was the main reason for the CPI turning from an increase to flat [1] Non-Food Price Trends - Non-food prices experienced a year-on-year increase of 0.3%, with the growth rate expanding by 0.2 percentage points from the previous month [1]
巴西副总统:我们相信,在汇率和食品价格下降的帮助下,通胀将会下降。
news flash· 2025-07-31 14:42
Core Viewpoint - The Brazilian Vice President expresses confidence that inflation will decrease due to the decline in exchange rates and food prices [1] Group 1 - The Vice President believes that the combination of lower exchange rates and food prices will contribute to a reduction in inflation [1]
6月辽宁CPI同比上涨0.2%
Xin Hua Cai Jing· 2025-07-10 06:20
Group 1 - In June, Liaoning Province's Consumer Price Index (CPI) increased by 0.2% year-on-year, which is 0.1 percentage points higher than the national average, ranking 12th in the country [1] - Month-on-month, the CPI decreased by 0.3%, which is 0.2 percentage points lower than the national average, ranking 28th in the country [1] - The prices of food decreased by 1.6%, while non-food prices remained stable compared to the previous month [1] Group 2 - Among the eight categories of goods and services, six categories saw price increases, while two categories experienced price declines year-on-year [1] - The largest price increase was in other goods and services, which rose by 8.3%, followed by clothing at 1.3%, and food, tobacco, and alcohol also at 1.3% [1] - Month-on-month, four categories saw price increases, three categories saw declines, and one category remained stable [2]
6月通胀数据点评:核心CPI同比持续回升
Group 1: CPI Analysis - China's June CPI increased by 0.1% year-on-year, reversing a four-month decline, exceeding market expectations[4] - The month-on-month CPI decreased by 0.1%, but the decline was narrower than the previous month by 0.1 percentage points[6] - Industrial consumer goods prices stabilized and contributed to the CPI increase, with a reduction in the downward impact on CPI by approximately 0.18 percentage points[6] Group 2: PPI Analysis - China's June PPI decreased by 3.6% year-on-year, with the decline widening by 0.3 percentage points compared to the previous month[4] - The PPI's further decline reflects accumulated supply-side pressures and weak demand[23] - Upstream industrial prices faced significant pressure, with mining industry prices dropping by 13.2% year-on-year[27] Group 3: Price Trends - Core CPI, excluding food and energy, rose by 0.7%, marking a 14-month high, supported by resilient service prices[20] - Energy prices increased by 0.1% month-on-month, reversing the previous downward trend, influenced by geopolitical factors[16] - Food prices decreased by 0.4% month-on-month, but the decline was smaller than seasonal expectations by 0.5 percentage points[14]
X @外汇交易员
外汇交易员· 2025-07-09 01:45
国家统计局:CPI同比上涨0.1%,为连续下降4个月后转涨。CPI由降转涨主要受工业消费品价格有所回升影响。受国际大宗商品价格变动影响,金饰品和铂金饰品价格同比分别上涨39.2%和15.9%,合计影响CPI同比上涨约0.21个百分点。食品价格降幅略有收窄。食品价格同比下降0.3%,降幅比上月收窄0.1个百分点,其中牛肉价格结束28个月连续下降,转为上涨2.7%。核心CPI同比上涨0.7%,涨幅比上月扩大0.1个百分点,创近14个月以来新高。 ...
业内预计:6月份CPI同比或小幅回升
Group 1: CPI Trends - The CPI is expected to show a slight year-on-year recovery in June, with estimates ranging from 0% to 0.01% year-on-year growth, while month-on-month changes are projected at -0.1% [2][4] - Food prices are experiencing seasonal declines, with fruits down 2.3%, pork down 2.3%, and eggs down 6.4% month-on-month, although vegetable prices have increased by 1.3% due to seasonal factors [2][3] - Non-food prices are anticipated to improve marginally, driven by rising oil prices and a recovery in service consumption [3][4] Group 2: PPI Trends - The PPI is expected to remain low, with year-on-year estimates ranging from -2.78% to -3.4%, indicating a narrowing decline compared to May [4][5] - Internationally, crude oil prices surged by 9.1% month-on-month, contributing to a rise in the CRB index, while other product price increases remain limited [4][5] - Domestic industrial product prices showed a slight recovery, with the South China Industrial Products Index rising by 0.8% month-on-month in June [4][5]
5月通胀数据点评:能源价格拖累物价表现
Mai Gao Zheng Quan· 2025-06-10 05:25
Inflation Data Summary - In May, the CPI decreased by 0.2% month-on-month and recorded -0.1% year-on-year, remaining in the negative growth range[2] - Core CPI remained flat month-on-month and increased by 0.6% year-on-year, indicating the effectiveness of consumption-boosting policies[2] - Food prices fell by 0.4% year-on-year, with a month-on-month decrease of 0.2%[2] - Seasonal vegetable supply increased, leading to a 5.9% drop in fresh vegetable prices, while fresh fruit prices rose by 3.3% due to supply constraints[13] Producer Price Index (PPI) Insights - The PPI continued to decline, recording -3.3% year-on-year and -0.4% month-on-month[3] - International commodity prices fell sharply, impacting sectors like oil and gas extraction, which saw a price drop of 5.6%[20] - Consumer goods prices showed some recovery, with clothing and durable goods prices increasing by 0.2% and 0.1% respectively[20] - New energy sectors like photovoltaics and lithium batteries experienced a narrowing of price declines, with reductions of -12.1% and -5.0% respectively[21] Economic Outlook - Overall inflation data indicates a low operating level, with both CPI and PPI in negative growth ranges, reflecting insufficient effective demand in the economy[23] - Despite short-term pressure from food and energy prices, core CPI stabilization and structural improvements suggest that policy measures are gradually taking effect[23] - The monetary policy is expected to remain flexible and appropriate, potentially utilizing tools like reserve requirement ratio cuts and interest rate reductions to stabilize domestic demand and market expectations[5]
5月份核心CPI同比涨幅扩大 经济韧性凸显
Zheng Quan Ri Bao· 2025-06-09 16:14
Group 1: CPI Analysis - In May, the Consumer Price Index (CPI) decreased by 0.2% month-on-month and 0.1% year-on-year, while the core CPI rose by 0.6% year-on-year, an increase of 0.1 percentage points from April [1][3] - The decline in CPI was primarily influenced by a 1.7% decrease in energy prices, which accounted for approximately 0.13 percentage points of the total CPI decline [2] - The hospitality and tourism sectors saw price increases of 4.6% and 0.8% respectively, indicating a recovery in consumer demand [2][3] Group 2: PPI Analysis - The Producer Price Index (PPI) fell by 0.4% month-on-month and 3.3% year-on-year, with the year-on-year decline widening by 0.6 percentage points compared to April [1][4] - The decrease in PPI was largely due to international factors, with significant price drops in the oil and gas extraction sector (5.6%) and refined petroleum products (3.5%) [4] - Domestic energy and raw material prices also saw a decline, particularly in the coal sector, which experienced a 3.0% drop due to seasonal demand [4][6] Group 3: Economic Outlook - The core CPI's mild recovery reflects improvements in supply and demand structures across various industries, supported by macroeconomic policies [3][6] - The overall economic resilience is expected to lead to a gradual recovery in CPI, with increased demand during the summer likely to boost service prices [3] - The PPI is anticipated to show marginal improvement, although it may take time to exit negative territory [6]