其他七大类价格同比六涨一降。其中，其他用品及服务、生活用品及服务、衣着价格分别上涨9.9%、2.2%和1.7%，医疗保健、教育文化娱乐、居住价格分 别上涨1.1%、0.8%和0.1%;交通通信价格下降2.0%。 10月15日，国家统计局公布了9月CPI、PPI数据。 其中，9月居民消费价格(CPI)同比下降0.3%，环比上涨0.1%。9月全国工业生产者出厂价格(PPI)同比下降2.3%，环比持平。 国家统计局城市司首席统计师董莉娟指出，9月份，消费市场运行总体平稳，居民消费价格指数(CPI)环比上涨0.1%，同比下降0.3%，扣除食品和能源价格的 核心CPI同比上涨1.0%，涨幅连续第5个月扩大。全国统一大市场建设纵深推进，市场竞争秩序持续优化，工业生产者出厂价格指数(PPI)环比继续持平;同比 下降2.3%，降幅比上月收窄0.6个百分点。 CPI环比由平转涨，核心CPI同比涨幅回升至1% 2025年9月份，全国居民消费价格同比下降0.3%。其中，城市下降0.2%，农村下降0.5%;食品价格下降4.4%，非食品价格上涨0.7%;消费品价格下降0.8%，服 务价格上涨0.6%。1—9月平均，全国居民消费价格比上 ...

Core Insights - In September, the Consumer Price Index (CPI) increased by 0.1% month-on-month, while year-on-year it decreased by 0.3%, marking a significant change in the consumption market [1] - The core CPI's year-on-year growth rate rose for five consecutive months, reaching 1%, the first time in 19 months that it returned to this level [1] - The Producer Price Index (PPI) remained flat month-on-month and saw a year-on-year decline of 2.3%, with the rate of decline narrowing by 0.6 percentage points compared to the previous month [1] CPI Analysis - The month-on-month increase in CPI was driven by a 0.7% rise in food prices, influenced by seasonal increases in fresh vegetables and eggs, while prices for pork and aquatic products fell [1] - Year-on-year, food prices decreased by 4.4%, and energy prices fell by 2.7%, contributing to the overall decline in CPI [1] - The core CPI, excluding food and energy, saw a year-on-year increase of 1.0% [1] PPI Analysis - The PPI's month-on-month stability is attributed to improved supply-demand dynamics, stabilizing prices in certain industries such as coal processing and photovoltaic equipment [1] - Input factors led to a decline in prices in domestic oil-related industries, including oil extraction and refined petroleum products [1] - The narrowing year-on-year decline in PPI reflects the effects of macroeconomic policies and the construction of a unified national market, which has helped stabilize prices in some sectors [1] Price Trends - In September, the average year-on-year decline in national consumer prices was 0.3%, with an average decline of 0.1% from January to September [1] - The prices of food, tobacco, and alcohol decreased by 2.6% year-on-year, while other categories showed mixed results with six rising and one falling [1] - The industrial producer prices year-on-year fell by 2.3%, with an average decline of 2.8% from January to September [1]

9月CPI同比降幅比上月收窄0.1个百分点。 "CPI同比下降，主要是翘尾影响所致。"董莉娟称，9月CPI 同比下降0.3%的变动中，翘尾影响约为-0.8个百分点，今年价格变动的新影响约为0.5个百分点。 从9月PPI环比运行特点看，董莉娟提到，一是供需结构改善带动部分行业价格明显企稳。9月份，煤炭 加工价格环比上涨3.8%，煤炭开采和洗选业价格上涨2.5%，黑色金属冶炼和压延加工业价格上涨 0.2%，均连续两个月上涨。二是输入性因素影响国内石油相关行业价格环比下降。国际油价下行带动 国内石油相关行业价格环比下降。 9月PPI同比降幅比上月收窄0.6个百分点。董莉娟表示，除受上年同期对比基数走低影响外，我国各项 宏观政策效果持续显现，一些行业价格呈现积极变化。一是全国统一大市场建设纵深推进带动相关行业 价格同比降幅收窄。部分行业产能治理成效显现，市场竞争秩序持续优化，价格同比降幅收窄。二是产 业结构升级和消费潜力释放带动相关行业价格同比上涨。现代化产业体系加快构建，制造业高端化、智 能化、绿色化发展向好，市场需求稳步扩大。此外，提振消费等政策效应继续显现，品质化、升级类消 费需求释放。 期货日报网讯（记者 杨 ...

Core Insights - The overall consumer market in September remained stable, with CPI rising 0.1% month-on-month and falling 0.3% year-on-year, while core CPI excluding food and energy prices increased by 1.0%, marking the fifth consecutive month of growth [1][2][3] CPI Analysis - The year-on-year decline in CPI of 0.3% was primarily due to the tail effect, with a contribution of approximately -0.8 percentage points from this effect, while new price changes contributed about 0.5 percentage points [1][3] - Food prices decreased by 4.4% year-on-year, significantly impacting CPI, with pork prices down 17.0% and fresh vegetables down 13.7% [3][8] - Core CPI's year-on-year increase of 1.0% is the first time it has returned to 1% in nearly 19 months, indicating a potential stabilization in consumer prices [1][3] PPI Analysis - The PPI remained flat month-on-month for two consecutive months, with a year-on-year decline of 2.3%, which is a narrowing of the decline by 0.6 percentage points compared to the previous month [1][6][10] - The improvement in supply-demand structure has led to price stabilization in certain industries, such as coal processing and black metal smelting, which saw price increases of 3.8% and 0.2% respectively [4][6] - Input factors, particularly the decline in international oil prices, have negatively impacted domestic oil-related industry prices [4][5] Price Changes by Category - In September, food and beverage prices fell by 2.6% year-on-year, contributing approximately 0.74 percentage points to the CPI decline [8] - The prices of various goods and services showed mixed results, with some categories like other goods and services, and clothing prices increasing by 9.9% and 1.7% respectively [8][9] - The prices of industrial producer goods showed a decline in production materials by 2.4%, with significant drops in mining and raw materials sectors [11][12]

Core Viewpoint - The consumer market in September showed overall stability, with CPI rising 0.1% month-on-month and falling 0.3% year-on-year, while core CPI excluding food and energy prices increased by 1.0%, marking the fifth consecutive month of growth [1][4][10]. CPI Analysis - The year-on-year decline in CPI of 0.3% was primarily due to the tail effect, with the tail effect contributing approximately -0.8 percentage points, while new price changes contributed about 0.5 percentage points [7][10]. - In September, food prices decreased by 4.4%, significantly impacting the CPI decline, with pork prices dropping by 17.0% [7][11]. - Core CPI's year-on-year increase of 1.0% is the first time it has returned to this level in 19 months, driven by rising prices in industrial consumer goods and services [4][10]. PPI Analysis - The PPI remained flat month-on-month for two consecutive months, with a year-on-year decline of 2.3%, a reduction in the decline rate by 0.6 percentage points compared to the previous month [8][26]. - The improvement in supply-demand structure has stabilized prices in several industries, such as coal processing and black metal smelting, which saw price increases of 3.8% and 0.2% respectively [8][9]. - Input factors, particularly the decline in international oil prices, have led to a decrease in domestic oil-related industry prices [8][9]. Price Changes by Category - In September, food and beverage prices fell by 2.6% year-on-year, with fresh vegetables and eggs seeing significant declines of 13.7% and 11.9% respectively [11][13]. - Other categories such as clothing and healthcare services experienced price increases, with clothing prices rising by 1.7% and healthcare services by 1.1% [11][17]. - The transportation and communication sectors saw a decline in prices, with transportation tools down by 1.9% year-on-year [17][20]. Summary of Key Data - The average CPI for January to September showed a decline of 0.1% year-on-year, while the average PPI for the same period decreased by 2.8% [10][26]. - The industrial producer purchase prices saw a year-on-year decline of 3.1%, with significant drops in fuel and power prices by 8.1% [23][26].

新华财经北京10月15日电国家统计局城市司首席统计师董莉娟解读2025年9月份CPI和PPI数据称，9月 份，消费市场运行总体平稳，居民消费价格指数（CPI）环比上涨0.1%，同比下降0.3%，扣除食品和能 源价格的核心CPI同比上涨1.0%，涨幅连续第5个月扩大。全国统一大市场建设纵深推进，市场竞争秩 序持续优化，工业生产者出厂价格指数（PPI）环比继续持平；同比下降2.3%，降幅比上月收窄0.6个百 分点。 （文章来源：新华财经） 二、PPI环比持平，同比降幅继续收窄 PPI环比连续两个月持平。本月PPI环比运行的主要特点：一是供需结构改善带动部分行业价格明显企 稳。煤炭加工价格环比上涨3.8%，煤炭开采和洗选业价格上涨2.5%，黑色金属冶炼和压延加工业价格 上涨0.2%，均连续两个月上涨，光伏设备及元器件制造价格由上月下降0.2%转为上涨0.8%；非金属矿 物制品业、锂离子电池制造价格分别下降0.4%和0.2%，降幅比上月分别收窄0.6个和0.3个百分点。二是 输入性因素影响国内石油相关行业价格环比下降。国际油价下行带动国内石油相关行业价格环比下降。 其中石油开采价格下降2.7%，精炼石油产品制造价格下 ...

Core Viewpoint - The article discusses the trends in China's Consumer Price Index (CPI) and Producer Price Index (PPI), highlighting a decline in CPI and a narrowing decline in PPI, indicating a complex economic environment with varying price movements across different sectors [2][5][7]. CPI Analysis - In September 2025, the national CPI decreased by 0.3% year-on-year, with urban areas down 0.2% and rural areas down 0.5% [2]. - Food prices fell by 4.4%, significantly impacting the CPI, while non-food prices increased by 0.7% [2]. - The core CPI, excluding food and energy, rose by 1.0%, marking the first return to this level in 19 months [5]. - Specific food price declines included fresh vegetables down 13.7%, eggs down 11.9%, and pork down 17.0%, collectively influencing the CPI negatively [2][5]. PPI Analysis - The PPI decreased by 2.3% year-on-year, but the decline was narrower than the previous month, indicating some stabilization in industrial prices [7]. - The PPI's performance was influenced by improved supply-demand structures in certain industries, with coal processing prices up 3.8% and black metal smelting prices up 0.2% [6][7]. - The article notes that the construction of a unified national market is helping to optimize market competition and reduce price declines in various sectors [7]. Price Movements - In September, the CPI increased by 0.1% month-on-month, with food prices rising by 0.7% and non-food prices slightly declining [3][4]. - The article highlights that the prices of services decreased due to seasonal factors, such as the end of summer and the timing of the Mid-Autumn Festival, which affected travel and accommodation costs [4]. Conclusion - Overall, the article presents a mixed picture of the economic landscape in China, with declining CPI driven by food prices and a stabilizing PPI reflecting improvements in certain industrial sectors [5][7].

经济观察网据国家统计局网站消息，10月15日，国家统计局城市司首席统计师董莉娟解读2025年9月份 CPI和PPI数据时表示，9月CPI同比下降0.3%，降幅比上月收窄0.1个百分点。CPI同比下降，主要是翘尾 影响所致。CPI-0.3%的同比变动中，翘尾影响约为-0.8个百分点，今年价格变动的新影响约为0.5个百分 点。 ...

CPI环比有所回升，由上月持平转为上涨0.1%。其中，食品价格环比上涨0.7%，涨幅比上月扩大0.2个百分点，影响CPI环比上涨约0.13个百分点。食品 中，鲜菜、鸡蛋、鲜果、羊肉和牛肉价格均呈季节性上涨，涨幅在0.9%—6.1%之间；猪肉和水产品供应充足，价格分别下降0.7%和1.8%。扣除能源的工 业消费品价格上涨0.5%，影响CPI环比上涨约0.12个百分点，其中受国际金价上涨影响，国内金饰品价格上涨6.5%；秋装换季上新，服装价格上涨0.8%； 文娱耐用消费品、家用器具和家庭日用杂品价格分别上涨0.9%、0.6%和0.6%。受服务和能源价格下降影响，CPI环比涨幅略低于季节性水平。服务价格下 降0.3%，影响CPI环比下降约0.12个百分点。其中，受暑期结束和中秋节较往年错月叠加影响，飞机票、宾馆住宿和旅游价格分别下降13.8%、7.4%和 6.1%，合计影响CPI环比下降约0.17个百分点。能源价格下降0.8%，其中受国际油价变动影响，国内汽油价格下降1.7%。 CPI同比下降0.3%，降幅比上月收窄0.1个百分点。CPI同比下降，主要是翘尾影响所致。本月CPI-0.3%的同比变动中，翘尾影响约为- ...

记者 辛圆 国家统计局周三发布数据显示，9月，中国消费者价格指数（CPI）同比下降0.3%，降幅较8月收窄0.1个百分点。 国家统计局城市司首席统计师董莉娟解读称，CPI同比下降，主要是翘尾影响所致。本月CPI-0.3%的同比变动中，翘尾影响约为-0.8个百分点，今年价格变 动的新影响约为0.5个百分点。 9月食品价格同比下降4.4%，降幅较上月扩大0.1个百分点。食品价格中，猪肉价格同比下降17%，降幅较上月扩大0.9个百分点；鲜菜价格同比下降13.7%， 降幅较上月收窄1.5个百分点。 往后看，冯琳认为，去年10月食品价格基数转为下行，尽管当前食品价格走势偏弱，今年10月食品CPI同比降幅仍将有所收窄。不过，去年10月国际原油价 格触底回升，加之当前国际油价走势低迷，预计今年10月国内成品油价格同比降幅有望转为扩大。 "从近期政策动向上看， '反内卷'对汽车、家电等重点商品价格的支撑作用在10月有望延续，而服务价格同比涨幅或将有所回落。预计10月CPI同比或有所回 升。后期伴随上年同期物价基数显著下沉，加之包括'以旧换新'等稳增长政策会进一步发力，CPI同比会脱离0值附近，有望在年底前升至0.5%至1.0 ...