Group 1 - The core viewpoint of the article highlights the ongoing effects of domestic demand expansion policies, leading to a rise in the Consumer Price Index (CPI) and a narrowing decline in the Producer Price Index (PPI [3][4][6] - In July, the CPI increased by 0.4% month-on-month, driven by rising prices in services and industrial consumer goods, with service prices up 0.6% and industrial consumer goods prices up 0.5% [4][5] - The core CPI, excluding food and energy, rose by 0.8% year-on-year, marking the highest increase since March 2024, with significant contributions from jewelry prices [4][5] Group 2 - The PPI decreased by 0.2% month-on-month, but the decline was less than the previous month, marking the first narrowing of the month-on-month decline since March [6][7] - Seasonal factors and uncertainties in the international trade environment contributed to price declines in certain industries, such as construction materials and electricity generation [6][7] - Year-on-year, the PPI fell by 3.6%, with some industries experiencing price increases due to improved supply-demand relationships and ongoing macroeconomic policies [8]

Group 1 - In July, China's Consumer Price Index (CPI) remained flat year-on-year, while the Producer Price Index (PPI) decreased by 3.6%, with the decline rate unchanged from June [1][5] - The decline in food prices, particularly pork and fresh vegetables, significantly impacted the CPI, with pork prices down 8.5% and fresh vegetable prices down 7.6% year-on-year [2][5] - Core CPI increased by 0.8% year-on-year, showing a slight acceleration compared to the previous month [4] Group 2 - The prices of production materials decreased by 4.3% year-on-year, while the decline in living materials prices widened from 1.4% to 1.6% [5] - Some industries are experiencing price increases due to macroeconomic policies and improved supply-demand relationships, with notable increases in prices for alkali (up 3.6%) and aircraft manufacturing (up 3.0%) [6] - The "anti-involution" policy is expected to support domestic prices, particularly in the automotive sector, while overall industrial consumer prices remain subdued due to weak consumer confidence [2][6]

Group 1: CPI Analysis - The Consumer Price Index (CPI) showed a month-on-month increase of 0.4% in July, reversing a previous decline of 0.1% in June, primarily driven by rising service and industrial goods prices [2][3] - The core CPI, excluding food and energy, rose by 0.8% year-on-year, marking the highest increase since March 2024, with jewelry prices significantly contributing to this rise [2][3] - Food prices decreased by 1.6% year-on-year, influenced by a high base from the previous year, which negatively impacted the overall CPI [3] Group 2: PPI Analysis - The Producer Price Index (PPI) decreased by 0.2% month-on-month, but the decline was less severe than in previous months, indicating a potential stabilization in certain sectors [4][5] - Year-on-year, the PPI fell by 3.6%, with some industries experiencing price recovery due to improved supply-demand dynamics and ongoing industrial upgrades [5][6] - Specific sectors such as traditional industries and emerging industries showed positive price movements, with notable increases in prices for products like caustic soda and aircraft manufacturing [5][6]

2025年7月份，全国工业生产者出厂价格环比下降0.2%，工业生产者购进价格环比下降0.3%，降幅比上 月分别收窄0.2个和0.4个百分点。工业生产者出厂价格同比下降3.6%，工业生产者购进价格同比下降 4.5%。1—7月平均，工业生产者出厂价格比上年同期下降2.9%，工业生产者购进价格下降3.2%。 国家统计局发布数据显示，2025年7月份，全国工业生产者出厂价格环比下降0.2%，工业生产者购进价 格环比下降0.3%，降幅比上月分别收窄0.2个和0.4个百分点。工业生产者出厂价格同比下降3.6%，工业 生产者购进价格同比下降4.5%。1—7月平均，工业生产者出厂价格比上年同期下降2.9%，工业生产者 购进价格下降3.2%。 ...

Group 1 - The core viewpoint of the article is the analysis of the July 2025 CPI and PPI data by the National Bureau of Statistics, highlighting the factors influencing the changes in PPI [1] - The main reason for the month-on-month change in PPI is seasonal factors combined with uncertainties in the international trade environment, which have led to price declines in certain industries [1] - The continuous optimization of the domestic market competition order has contributed to a narrowing of the price decline in related industries [1]

Group 1 - The core viewpoint of the article highlights the continuous recovery of the core CPI in July 2025, with a month-on-month increase in CPI and a narrowing decline in PPI [1][2][4] - The CPI increased by 0.4% month-on-month, driven by rising prices in services and industrial consumer goods, with service prices contributing approximately 0.26 percentage points to the CPI increase [2][3] - The core CPI, excluding food and energy, rose by 0.8% year-on-year, marking the highest increase since March 2024, influenced by significant price increases in gold and platinum jewelry [2][3] Group 2 - The PPI decreased by 0.2% month-on-month, with the decline narrowing by 0.2 percentage points compared to the previous month, marking the first month-on-month narrowing since March [4][5] - The decline in PPI was influenced by seasonal factors and uncertainties in the international trade environment, affecting prices in several industries, including non-metallic mineral products and coal mining [4][5] - Year-on-year, the PPI fell by 3.6%, with some industries experiencing price recovery due to improved supply-demand relationships and ongoing macroeconomic policies [5][6]

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]

Group 1 - The Consumer Price Index (CPI) increased by 0.4% month-on-month in July, reversing a previous decline, driven by rising prices in services and industrial consumer goods [1][2] - The core CPI, excluding food and energy, rose by 0.8% year-on-year, marking the highest increase since March 2024, with significant contributions from gold and platinum jewelry prices [1][3] - Food prices decreased by 1.6% year-on-year, primarily due to a high base from the previous year, impacting the overall CPI [2] Group 2 - The Producer Price Index (PPI) decreased by 0.2% month-on-month, but the decline was less than the previous month, indicating a potential stabilization in certain sectors [2][3] - Year-on-year, the PPI fell by 3.6%, with some industries experiencing price recovery due to improved supply-demand relationships and ongoing macroeconomic policies [3][4] - Specific industries such as traditional manufacturing and emerging sectors showed price increases, with notable rises in the prices of caustic soda and aircraft manufacturing [3][4]

Group 1: CPI Analysis - In July, the Consumer Price Index (CPI) increased by 0.4% month-on-month, reversing a previous decline of 0.1%, with a year-on-year change remaining flat [1][2] - The core CPI, excluding food and energy, rose by 0.8% year-on-year, marking the highest increase since March 2024, and has expanded for three consecutive months [1][2] - Service prices contributed significantly to the CPI increase, with a month-on-month rise of 0.6%, driven by seasonal factors such as summer travel [2] Group 2: PPI Analysis - The Producer Price Index (PPI) decreased by 0.2% month-on-month, but the decline was less than the previous month, indicating a narrowing of the drop for the first time since March [1][4] - Year-on-year, the PPI fell by 3.6%, with the decline remaining consistent with the previous month, reflecting ongoing macroeconomic policies and improvements in supply-demand relationships in certain industries [1][5] - Seasonal factors and international trade uncertainties have influenced price changes in various sectors, with notable decreases in construction materials and energy-related prices [4][5]

人民财讯8月9日电，国家统计局9日发布数据显示，2025年7月份，全国居民消费价格同比持平。其中， 城市持平，农村下降0.3%；食品价格下降1.6%，非食品价格上涨0.3%；消费品价格下降0.4%，服务价 格上涨0.5%。1—7月平均，全国居民消费价格比上年同期下降0.1%。 ...