Group 1 - The core viewpoint of the article highlights the multidimensional changes in consumer and industrial prices in July, indicating the effects of policies aimed at expanding domestic demand [1] - The Consumer Price Index (CPI) showed a month-on-month increase of 0.4% in July, reversing a previous decline of 0.1%, while the year-on-year change remained flat [1] - The core CPI rose by 0.8% year-on-year, marking the highest increase since March 2024, with significant contributions from service and industrial consumer goods prices [1] Group 2 - The Producer Price Index (PPI) decreased by 0.2% month-on-month, but the decline was narrowed by 0.2 percentage points, the first contraction since March, with a year-on-year decrease of 3.6% [1] - Seasonal factors and uncertainties in international trade have led to price declines in certain industries, particularly in non-metallic mineral products and computer communication sectors [1] - The article suggests that the narrowing of the PPI decline reflects positive changes due to effective policies and industry structure optimization, with a focus on reshaping supply and demand in the short term [1]

Group 1 - The consumer price index (CPI) increased by 0.4% month-on-month in July, reversing a previous decline of 0.1%, while year-on-year it remained flat [2] - The core CPI, excluding food and energy, rose by 0.8% year-on-year, marking the highest increase since March 2024 [3] - The producer price index (PPI) decreased by 0.2% month-on-month, but the decline was narrower than the previous month, indicating a potential stabilization in prices [2][3] Group 2 - Service prices increased by 0.6% month-on-month, contributing significantly to the CPI rise, while industrial consumer goods prices, excluding energy, also saw a 0.2% increase [2] - The decline in food prices, down 1.6% year-on-year, was a major factor in keeping the year-on-year CPI unchanged [2] - The improvement in supply-demand relationships in certain industries is attributed to ongoing macroeconomic policies and consumer demand initiatives [4] Group 3 - Recent months have shown a stabilization in PPI declines, reflecting effective policy measures and structural adjustments in the industry [5] - The concept of "anti-involution" is expected to be a key focus for policies in the second half of the year, aiming to optimize resource allocation and improve industry efficiency [5] - The sustainability of price recovery remains uncertain and is contingent on effective policy execution and coordination [5]

Group 1 - The core CPI in July 2025 showed a year-on-year increase of 0.8%, marking the third consecutive month of growth [3] - The overall CPI in July shifted from a month-on-month decrease of 0.1% to an increase of 0.4%, while the year-on-year figure remained stable [3] - Service prices rose by 0.6% month-on-month in July, contributing over 60% to the total CPI increase, driven by high demand during the summer travel season [3] Group 2 - The Producer Price Index (PPI) decreased by 0.2% month-on-month in July, but the decline was narrowed by 0.2 percentage points compared to the previous month, marking the first month of reduced decline since March [3] - The domestic market's competitive order has improved, leading to a reduction in price declines for industries such as coal, steel, photovoltaic, and lithium batteries [3]

Group 1 - The core viewpoint of the articles indicates that the effects of domestic demand expansion policies are becoming evident, with the Consumer Price Index (CPI) showing a month-on-month increase of 0.4% in July, reversing a previous decline of 0.1% in June, while year-on-year CPI remains flat [1] - The core CPI, excluding food and energy prices, has increased by 0.8% year-on-year, marking the highest growth since March 2024, and the growth rate has expanded for three consecutive months [1] - The Producer Price Index (PPI) has decreased by 0.2% month-on-month in July, with a year-on-year decline of 3.6%, indicating a narrowing of the month-on-month decline by 0.2 percentage points compared to the previous month [1] Group 2 - The year-on-year CPI remained unchanged primarily due to lower food prices, which fell by 1.6% compared to the same month last year, with the decline rate widening by 1.3 percentage points from the previous month [2] - Non-food prices have increased by 0.3% year-on-year, with the growth rate expanding by 0.2 percentage points compared to the previous month [2]

Group 1 - The core viewpoint of the articles indicates that the effects of domestic demand expansion policies are becoming evident, with the Consumer Price Index (CPI) showing a month-on-month increase of 0.4% in July, reversing a previous decline of 0.1% [1] - The core CPI, excluding food and energy prices, has increased by 0.8% year-on-year, marking the highest growth since March 2024, and the growth rate has expanded for three consecutive months [1] - The Producer Price Index (PPI) has decreased by 0.2% month-on-month in July, with a year-on-year decline of 3.6%, indicating a narrowing of the month-on-month decline by 0.2 percentage points [1] Group 2 - The CPI year-on-year remained flat, primarily due to lower food prices, which decreased by 1.6% year-on-year, influenced by a high price base from the previous year [2] - Non-food prices have increased by 0.3% year-on-year, with the growth rate expanding by 0.2 percentage points compared to the previous month [2]

Group 1 - In July, the Consumer Price Index (CPI) in China increased by 0.4% month-on-month, reversing a previous decline of 0.1% in June, while year-on-year it remained flat [1] - The core CPI, excluding food and energy prices, rose by 0.8% year-on-year, marking an expansion in growth for three consecutive months [1] - Service prices saw a month-on-month increase of 0.6%, contributing over 60% to the total CPI increase, driven by high demand during the summer travel season, particularly in airfares, tourism, and hotel accommodations [1] Group 2 - The domestic market's competitive order continues to improve, leading to a narrowing of price declines in industries such as coal, steel, photovoltaics, and lithium batteries [2] - In July, the Producer Price Index (PPI) decreased by 0.2% month-on-month, but this decline was 0.2 percentage points smaller than the previous month, marking the first month-on-month decline reduction since March [2]

中新社北京8月9日电 随着扩内需政策效应持续显现，中国消费领域价格继续呈现积极变化。中国国家 统计局9日公布，7月份，扣除食品和能源价格的核心居民消费价格指数(CPI)同比上涨0.8%，涨幅连续3 个月扩大。 同期，工业消费品价格环比上涨0.5%，涨幅比上月扩大0.4个百分点。提振消费政策带动需求持续回 暖，叠加"618"促销活动结束，扣除能源的工业消费品价格环比上涨0.2%，其中燃油小汽车和新能源小 汽车价格均由连续5个月以上的下降转为持平。 从核心CPI看，7月份0.8%的同比涨幅为2024年3月以来最高。其中，金饰品和铂金饰品价格同比分别上 涨37.1%和27.3%；服务价格同比上涨0.5%，涨幅持续保持稳定；燃油小汽车和新能源小汽车价格同比 分别下降2.6%和1.9%，降幅分别为近34个月和28个月最小。 主要受食品价格较低影响，7月份CPI同比持平。在上年同期价格基数较高的情况下，当月食品价格同 比下降1.6%，降幅比上月扩大1.3个百分点。其中，鲜菜价格同比下降7.6%，降幅比上月扩大7.2个百分 点，鲜果价格同比上涨2.8%，涨幅比上月回落3.3个百分点。非食品价格同比上涨0.3%，涨幅比上月扩 ...

Core Viewpoint - The Consumer Price Index (CPI) in July 2025 remained flat year-on-year, influenced by a significant decline in food prices, while non-food prices showed a slight increase [2][10][13]. Price Changes Overview - In July, food prices decreased by 1.6% year-on-year, contributing to a 0.29 percentage point drop in CPI. The decline in fresh vegetable prices was particularly notable at 7.6% [4][13]. - Non-food prices increased by 0.3% year-on-year, marking a 0.2 percentage point rise compared to the previous month [13]. Monthly Price Movements - Month-on-month, the CPI rose by 0.4%, with urban areas increasing by 0.4% and rural areas by 0.3%. This was a reversal from a 0.1% decline in the previous month [2][10]. - Service prices rose by 0.6% month-on-month, significantly impacting the CPI increase, particularly due to seasonal factors such as summer travel [11]. Core CPI Insights - The core CPI, excluding food and energy, increased by 0.8% year-on-year, the highest since March 2024, indicating a steady recovery in consumer demand [10][12]. - Prices of gold and platinum jewelry saw substantial increases of 37.1% and 27.3% respectively, contributing to the overall CPI rise [12]. Sector-Specific Price Changes - In the food category, egg prices fell by 11.2%, while meat prices, including pork, decreased by 9.5%, significantly affecting the CPI [4][5]. - Other categories showed mixed results, with transportation and communication prices declining by 3.1%, while other goods and services saw increases [5][8].

Group 1 - The core viewpoint is that the effects of domestic demand expansion policies are becoming increasingly evident, with the Consumer Price Index (CPI) showing a month-on-month increase of 0.4% in July, reversing a previous decline of 0.1% [1][2] - The core CPI, excluding food and energy prices, rose by 0.8% year-on-year in July, marking the highest increase since March 2024, and the growth rate has expanded for three consecutive months [5][6] - The increase in CPI is primarily driven by rising prices in the service sector and industrial consumer goods, with service prices up 0.6% month-on-month, contributing approximately 0.26 percentage points to the CPI increase [4][5] Group 2 - The Producer Price Index (PPI) decreased by 0.2% month-on-month in July, but the decline has narrowed by 0.2 percentage points compared to the previous month, marking the first contraction in the rate of decline since March [6][8] - Seasonal factors and uncertainties in the international trade environment have led to price declines in certain industries, while domestic market competition continues to improve, resulting in a reduced downward impact on PPI [8][9] - Year-on-year, the PPI fell by 3.6% in July, with the decline remaining consistent with the previous month, indicating some improvement in supply-demand relationships in certain sectors due to ongoing macroeconomic policies [8][9]

Core Viewpoint - The article discusses the recent trends in China's Consumer Price Index (CPI) and Producer Price Index (PPI), highlighting a shift in consumer prices and the implications for economic policy and market conditions [1][2][7]. CPI Analysis - In July, the CPI increased by 0.4% month-on-month, reversing a previous decline of 0.1%, and remained flat year-on-year. The core CPI, excluding food and energy, rose by 0.8%, marking the highest increase since March 2024 [1][6]. - The rise in CPI was primarily driven by increases in service prices (up 0.6%) and industrial consumer goods prices (up 0.5%). Seasonal factors and the impact of summer travel contributed to higher prices for air tickets, tourism, and accommodation [4][6]. - Food prices decreased by 1.6% year-on-year, influenced by a high base from the previous year, with fresh vegetables and fruits being significant contributors to this decline [6]. PPI Analysis - The PPI fell by 0.2% month-on-month, but this decline was the smallest since March, indicating a potential stabilization in industrial prices. Year-on-year, the PPI decreased by 3.6%, consistent with the previous month [2][8]. - The decline in PPI is attributed to seasonal factors, market order optimization, and uncertainties in international trade. Specific industries such as non-metallic mineral products and coal mining experienced price drops due to reduced demand [9][10]. - Despite the overall decline, the competitive market environment has led to a narrowing of price decreases in several sectors, including coal and steel, suggesting a potential for price stabilization in the future [10]. Economic Policy Implications - The article emphasizes the importance of coordinated monetary and fiscal policies to support economic stability and reasonable price levels. The People's Bank of China has indicated a need for moderately loose monetary policy to address domestic demand issues and low price levels [7].