智通财经6月3日电，欧元区5月份核心CPI同比上升2.3%，预期为2.4%。 ...

智通财经5月23日电，新加坡4月份CPI同比增长0.9%，预估增长0.8%；4月份核心CPI同比增长0.7%，预 估增长0.5%。 ...

Core Insights - The National Bureau of Statistics reported stable growth in key economic indicators for April, with notable attention on the Consumer Price Index (CPI) and Producer Price Index (PPI) [2] - April's CPI decreased by 0.1% year-on-year, while the core CPI, excluding food and energy prices, increased by 0.5%, indicating stability [2][4] - The PPI fell by 2.7% year-on-year, with a widening decline compared to the previous month, influenced by international energy price drops and external factors [2][5] Economic Analysis - The core CPI's stability suggests resilience in China's domestic demand market, providing room for further policy action [2][3] - The government's target for CPI growth by 2025 is around 2%, with current figures indicating a significant gap to this goal [2] - Analysts suggest that a combination of proactive fiscal policies and moderately loose monetary policies could help achieve a mild price recovery and support GDP growth of approximately 5% by 2025 [2][3] Price Trends - In April, the CPI increased by 0.1% month-on-month, reversing a previous downward trend, with seven out of eight categories of goods and services experiencing price increases [4] - Food prices saw a mixed trend, with some items like beef, lamb, seafood, and fresh fruits rising, while fresh vegetables and pork prices declined [4] - The PPI's decline is affecting industrial enterprise profitability, necessitating continued efforts to expand domestic demand and promote technological and industrial innovation [5][6] Future Outlook - The stability of CPI and core CPI reflects the vitality of China's domestic demand market, with expectations for gradual price recovery as policies continue to be implemented [7] - There is a need to address external shocks, particularly from international trade tensions, which could impact industrial product prices [7] - The government aims to enhance support for high-tech industries and promote industrial upgrades to strengthen economic resilience [7]

Economic Overview - The overall price level is currently low, which increases pressure on corporate operations and affects residents' employment and income growth, making it important to promote a reasonable price recovery [1][5] - The government aims to continue leveraging macroeconomic policies to further expand investment demand and promote supply-side reforms to improve economic circulation [1][5] Consumer Price Index (CPI) Analysis - In April, the national consumer price index (CPI) decreased by 0.1% year-on-year, while the core CPI increased by 0.5%, indicating a stable overall trend despite the slight decline [3][4] - The decline in CPI is primarily influenced by the drop in international oil prices, with energy prices falling by 4.8% year-on-year, particularly gasoline prices which decreased by 10.4%, contributing to a 0.38 percentage point drop in CPI [3][4] - Month-on-month, the CPI rose by 0.1% in April, reversing the previous month's decline, driven by increases in food and travel service prices [3][4] Core CPI Insights - The core CPI, excluding food and energy, showed a year-on-year increase of 0.5%, indicating stability in price levels, with service prices rising by 0.3% and industrial consumer goods prices (excluding energy) increasing by 0.4% [4] - The core CPI has demonstrated a steady upward trend, with increases of 0.3%, 0.5%, and 0.5% in January-February, March, and April respectively, reflecting the effectiveness of macroeconomic policies and enhanced domestic demand [4]

Group 1 - The Consumer Price Index (CPI) in Wuhan increased by 0.4% year-on-year in April, indicating the resilience and vitality of the consumption market [1] - The core CPI, excluding food and energy prices, rose by 0.6% year-on-year, with seven out of eight categories of goods and services experiencing price increases [1] - Prices for other goods and services rose by 6.3%, education and cultural entertainment by 2.3%, clothing by 2.1%, and housing and healthcare by 0.4%, while transportation and communication prices decreased by 3.5% [1] Group 2 - Service prices increased by 0.9% year-on-year, becoming a significant driver of CPI growth, with notable increases in ticket prices for attractions, movies, and performances [2] - The rise in service prices is attributed to various seasonal and event-driven consumption trends, including the popularity of cultural events and festivals in Wuhan [2]

Group 1 - In April, Russia's Consumer Price Index (CPI) increased by 0.40% month-on-month, slightly below the expected increase of 0.50% [1] - Year-on-year, the CPI rose by 10.23%, also slightly below the forecasted increase of 10.30% [1] - The core CPI for April saw a month-on-month increase of 0.32% and a year-on-year increase of 9.23% [1] Group 2 - In the first quarter, Russia's GDP grew by 1.4% year-on-year [1]

日本4月份核心通胀率或创两年来最快增速 金十数据5月16日讯，路透调查显示，日本4月核心通胀可能录得两年来最快增速，因能源补贴减少和食 品价格上涨，这加大了日本央行加息的压力。对19位经济学家进行的一项调查显示，日本4月份核心 CPI预计将同比上涨3.4%。这一数字将是自2023年4月以来的最高水平，而3月份为3.2%。瑞穗研究技术 的一位分析师表示："尽管从4月份开始取消高校学费将是降低成本压力的一个因素，但非易变质食品和 餐厅服务价格的修正将是推高通胀的一个因素。" ...

期货研究报告|宏观数据 2025-05-14 核心 CPI 稳定，总需求风险后置 ——美国通胀系列十四 研究院 徐闻宇 xuwenyu@htfc.com 从业资格号：F0299877 投资咨询号：Z0011454 投资咨询业务资格： 证监许可【2011】1289 号 宏观事件 北京时间 2025 年 5 月 13 日晚美国劳工部公布 4 月通胀数字。其中： 同比：CPI+2.3%，预期+2.4%，前值+2.4%；核心 CPI+2.8%，预期+2.8%，前值+2.8%。 环比：CPI+0.2%，预期+0.3%，前值-0.4%；核心 CPI+0.2%，预期+0.3%，前值+0.1%。 核心观点 ■ 核心 CPI 稳定，降息仍"观望" 4月份核心通胀自高位持续回落，降至 2.8%。自 2024年 9月美联储开始降息（+3.3%） 以来已经回落了 0.5 个百分点。 （1）从趋势来看，4 月核心 CPI 同比走势维持在回落通道中； （2）从节奏来看，核心 CPI 短期具有韧性，4 月数值较 3 月份仅回落 0.01 个百分点； （3）从结构来看，4 月失业率继续保持在 4.2%的水平，且新增非农就业 17.7 万人， ...

美国4月核心CPI同比 2.8%，预期 2.8%，前值 2.8%。 ...

美国4月核心CPI同比增长2.8%，预期为2.8%，前值为2.8%。美国4月核心CPI环比增长0.2%，预期为 0.3%，前值为0.1%。美国4月CPI同比增长2.3%，预期为2.4%，前值为2.4%。美国4月CPI环比增长 0.2%，预期为0.3% ， 前值为-0.1%。 ...