Group 1: Consumer Price Index (CPI) Overview - In October 2025, the national consumer price index (CPI) increased by 0.2% year-on-year, with urban areas rising by 0.3% and rural areas declining by 0.2% [1] - Food prices decreased by 2.9%, while non-food prices increased by 0.9% [1] - The average CPI from January to October 2025 showed a decline of 0.1% compared to the same period last year [1] Group 2: Year-on-Year Price Changes of Goods and Services - In October, the prices of food, tobacco, and alcohol decreased by 1.6%, contributing approximately 0.46 percentage points to the CPI decline [2] - Specific food items such as eggs and pork saw significant price drops of 11.6% and 16.0%, respectively, impacting the CPI by approximately 0.08 and 0.23 percentage points [2] - Other categories, including other goods and services, clothing, and healthcare, experienced price increases of 12.8%, 1.7%, and 1.4%, respectively [2] Group 3: Month-on-Month Price Changes of Goods and Services - In October, food, tobacco, and alcohol prices rose by 0.2% month-on-month, contributing about 0.07 percentage points to the CPI increase [3] - Fresh vegetables and fruits saw month-on-month price increases of 4.3% and 1.2%, respectively [3] - Other categories such as education and healthcare experienced slight increases, while clothing prices remained stable [3] Group 4: Industrial Producer Price Index (IPP) Overview - In October 2025, the industrial producer price index (IPP) decreased by 2.1% year-on-year, with the decline narrowing by 0.2 percentage points compared to the previous month [4] - Month-on-month, the IPP shifted from flat to an increase of 0.1% [4] - The average IPP from January to October 2025 showed a decline of 2.7% compared to the same period last year [4] Group 5: Year-on-Year Changes in Industrial Producer Prices - In October, the prices of production materials decreased by 2.4%, impacting the overall IPP by approximately 1.77 percentage points [5] - The prices of living materials also decreased by 1.4%, contributing about 0.36 percentage points to the overall decline [5] - Specific categories such as fuel and agricultural products saw significant price drops of 7.4% and 5.2%, respectively [5] Group 6: Month-on-Month Changes in Industrial Producer Prices - In October, production material prices increased by 0.1%, contributing approximately 0.08 percentage points to the overall IPP increase [7] - Prices of food and clothing saw slight declines of 0.1%, while general daily necessities increased by 0.7% [7] - The prices of non-metallic building materials and agricultural products experienced slight declines [7]

Core Insights - The article highlights a comprehensive improvement in price data, indicating a steady recovery in domestic consumption demand, particularly in service consumption, with expectations for a moderate increase in CPI in the coming quarter [2][5][8]. CPI Analysis - In October, the Consumer Price Index (CPI) rose by 0.2% month-on-month and year-on-year, reversing a previous decline of 0.3% [4]. - Food prices decreased by 2.9%, while energy prices fell by 2.4%, but the decline in both categories narrowed compared to the previous month [4]. - The core CPI, excluding food and energy, increased by 1.2%, marking the highest growth since March 2024 and expanding for the sixth consecutive month [4][5]. Service and Industrial Prices - Service prices turned from a 0.3% decline to a 0.2% increase, with significant rises in hotel accommodation (8.6%), airfare (4.5%), and tourism (2.5%) [7]. - Industrial Producer Price Index (PPI) saw a month-on-month increase of 0.1%, the first rise of the year, while the year-on-year decline narrowed to 2.1% [10]. Demand Recovery and Price Trends - The recovery in domestic demand is expected to continue supporting industrial prices, with improvements noted in sectors such as coal mining and photovoltaic equipment manufacturing [10][11]. - The article suggests that the ongoing recovery in consumption will contribute to a more stable price environment, with PPI declines likely to continue narrowing [11]. Conclusion - Overall, the data indicates a positive trend in both consumer and industrial prices, driven by recovering demand and improved market conditions, suggesting a favorable outlook for the economy in the near term [2][8][11].

Consumer Price Index (CPI) Summary - In October 2025, the national consumer price index (CPI) increased by 0.2% year-on-year, with urban areas rising by 0.3% and rural areas declining by 0.2% [2][19] - Food prices decreased by 2.9%, while non-food prices increased by 0.9% [2][21] - The average CPI from January to October 2025 showed a decline of 0.1% compared to the same period last year [2][19] Price Changes in Specific Categories - The prices of food, tobacco, and alcohol decreased by 1.6% year-on-year, impacting the CPI by approximately 0.46 percentage points [4] - Key food items such as eggs and pork saw significant price drops of 11.6% and 16.0%, respectively [4][21] - Other categories like clothing and healthcare experienced price increases of 1.7% and 1.4% year-on-year [4] Month-on-Month Changes - In October, the CPI rose by 0.2% month-on-month, with urban areas increasing by 0.2% and rural areas by 0.1% [2][20] - Food prices increased by 0.3% month-on-month, while service prices also rose by 0.2% [2][20] Industrial Producer Price Index (PPI) Summary - The industrial producer price index (PPI) decreased by 2.1% year-on-year in October 2025, with the decline narrowing by 0.2 percentage points from the previous month [10][24] - Month-on-month, the PPI shifted from flat to an increase of 0.1%, marking the first rise of the year [10][22] Price Changes in Industrial Categories - The prices of production materials fell by 2.4%, contributing to a total decline in the PPI [12] - Specific sectors such as coal mining and washing saw a month-on-month price increase of 1.6% [22][23] - The prices of non-ferrous metal mining rose by 5.3% month-on-month, influenced by international price trends [23] Core CPI Insights - The core CPI, excluding food and energy, rose by 1.2% year-on-year, marking the highest increase since March 2024 [19][21] - Service prices have been gradually increasing, with a notable rise in accommodation and travel costs during the holiday season [20][21]

Core Insights - The National Bureau of Statistics reported that in October, the Consumer Price Index (CPI) increased by 0.2% month-on-month and year-on-year, driven by policies aimed at expanding domestic demand and the impact of the National Day and Mid-Autumn Festival holidays [1] - The core CPI, excluding food and energy prices, rose by 1.2% year-on-year, marking the sixth consecutive month of growth [1] - The Producer Price Index (PPI) shifted from flat in the previous month to a 0.1% increase month-on-month, representing the first rise of the year, while the year-on-year decline narrowed to 2.1%, a reduction of 0.2 percentage points from the previous month [1] Economic Indicators - CPI month-on-month increase: 0.2% [1] - CPI year-on-year increase: 0.2% [1] - Core CPI year-on-year increase: 1.2% [1] - PPI month-on-month increase: 0.1% [1] - PPI year-on-year decrease: 2.1% [1] - PPI decline narrowing: 0.2 percentage points [1]

Core Insights - In October, the Producer Price Index (PPI) increased by 0.1% month-on-month, marking the first rise of the year, while the year-on-year decline narrowed to 2.1%, a reduction of 0.2 percentage points from September, continuing a trend of narrowing for three consecutive months [1][2] Group 1: PPI Trends - The narrowing of the PPI decline is attributed to ongoing capacity management in key industries, leading to reduced year-on-year price declines in related sectors [2] - The coal mining and washing industry saw a year-on-year price decline narrowing by 1.2 percentage points due to increased winter stockpiling and electricity demand [2] - The manufacturing sectors, including photovoltaic equipment, battery manufacturing, and automotive manufacturing, experienced year-on-year price declines narrowing by 1.4, 1.3, and 0.7 percentage points respectively [2] Group 2: Price Increases in Specific Industries - The construction of a modern industrial system and the orderly release of consumption potential have driven price increases in several industries [2] - Prices in the non-ferrous metal smelting and rolling processing industry rose by 6.8%, while electronic special materials manufacturing prices increased by 2.3% [2] - Other notable price increases include microwave communication equipment (1.8%), shipbuilding and related equipment (0.9%), and comprehensive utilization of waste resources (0.7%) [2] - Consumer-driven policies have led to significant price increases in specific sectors, such as arts and crafts (18.4%), sports balls (3.3%), nutritional foods (2.1%), and beverages (0.4%) [2]

国家统计局11月9日发布的数据显示，10月份，全国居民消费价格指数（CPI）同比、环比均上涨0.2%，扣除食品和能源价格的核心CPI同比上涨1.2%，涨 幅连续第6个月扩大。 10月份，全国工业生产者出厂价格指数（PPI）同比下降2.1%，降幅比上月收窄0.2个百分点，环比由上月持平转为上涨0.1%，为年内首次转正。 食品价格涨幅高于季节性。董莉娟表示，10月份，食品价格上涨0.3%，季节性水平为下降0.1个百分点。其中，节日期间消费需求增加，鲜菜、羊肉、鲜 果、虾蟹类和牛肉价格环比涨幅在0.5%至4.3%之间。工业消费品价格稳中有涨，受国际金价上涨影响，国内金饰品价格环比上涨10.2%。 从同比看，10月份，CPI同比由上月下降0.3%转为上涨0.2%。 董莉娟表示，食品和能源价格仍处低位，但降幅均有收窄。食品价格同比下降2.9%，降幅比上月收窄1.5个百分点，影响CPI同比下降约0.54个百分点。能 源价格同比下降2.4%，其中汽油价格同比下降5.5%，影响CPI同比下降约0.18个百分点。 CPI环比涨幅扩大 同比转正 国家统计局城市司首席统计师董莉娟表示，受扩内需等政策措施持续显效，叠加国庆、中秋假期 ...

（原标题：↑0.2%！刚刚，重磅发布！） 刚刚，国家统计局公布最新数据，2025年10月份，全国居民消费价格同比上涨0.2%。2025年10月份， 全国工业生产者出厂价格同比下降2.1%，降幅比上月收窄0.2个百分点；环比由上月持平转为上涨 0.1%。 国家统计局城市司首席统计师董莉娟表示，10月份，扩内需等政策措施持续显效，叠加国庆、中秋长假 带动，居民消费价格指数（CPI）环比上涨0.2%，同比上涨0.2%，扣除食品和能源价格的核心CPI同比 上涨1.2%，涨幅连续第6个月扩大。受国内部分行业供需关系改善、国际大宗商品价格传导等因素影 响，工业生产者出厂价格指数（PPI）环比由上月持平转为上涨0.1%，为年内首次上涨；同比下降 2.1%，降幅比上月收窄0.2个百分点，连续第3个月收窄。 10月份居民消费价格同比上涨0.2% 国家统计局11月9日公布数据显示，2025年10月份，全国居民消费价格同比上涨0.2%。其中，城市上涨 0.3%，农村下降0.2%；食品价格下降2.9%，非食品价格上涨0.9%；消费品价格下降0.2%，服务价格上 涨0.8%。1--—10月平均，全国居民消费价格比上年同期下降0.1%。 ...

Group 1: CPI Analysis - In October 2025, the Consumer Price Index (CPI) increased by 0.2% month-on-month and year-on-year, marking a shift from a decline to an increase [1][3] - The core CPI, excluding food and energy, rose by 1.2% year-on-year, the highest increase since March 2024, and has expanded for six consecutive months [3][6] - Service prices turned from a decline of 0.3% last month to an increase of 0.2%, driven by high travel demand during the National Day and Mid-Autumn Festival [2][3] Group 2: PPI Analysis - The Producer Price Index (PPI) saw a month-on-month increase of 0.1%, marking the first rise of the year, while the year-on-year decline narrowed to 2.1%, a reduction of 0.2 percentage points from the previous month [1][4] - Key industries such as coal mining and photovoltaic equipment manufacturing experienced price increases due to improved supply-demand relationships [4][5] - The year-on-year decline in PPI has been narrowing for three consecutive months, indicating a potential stabilization in industrial pricing [5][18] Group 3: Price Changes by Category - Food prices decreased by 2.9% year-on-year, with significant declines in pork (16.0%) and eggs (11.6%), impacting the overall CPI [3][8] - Non-food prices increased by 0.9% year-on-year, with notable increases in other categories such as medical care (1.4%) and education (0.9%) [6][12] - The average CPI for the first ten months of 2025 showed a decline of 0.1% compared to the same period last year [6][12]

Core Insights - In October 2025, the Consumer Price Index (CPI) increased by 0.2% year-on-year, while the Producer Price Index (PPI) decreased by 2.1%, with the decline narrowing by 0.2 percentage points compared to the previous month [1][9][17]. CPI Analysis - The CPI rose 0.2% month-on-month, with urban areas increasing by 0.3% and rural areas decreasing by 0.2%. Food prices fell by 2.9%, while non-food prices rose by 0.9% [3][19]. - The core CPI, excluding food and energy, increased by 1.2% year-on-year, marking the sixth consecutive month of growth [2][17]. - Key contributors to the CPI changes included a 11.6% drop in egg prices and a 16.0% decrease in pork prices, which significantly impacted the overall CPI [5][19]. PPI Analysis - The PPI saw a month-on-month increase of 0.1%, marking the first rise of the year, while the year-on-year decline of 2.1% continued to narrow [9][20]. - The decrease in PPI was influenced by a 2.4% drop in production material prices, with mining and raw material industries experiencing significant declines [13][21]. - Notably, the prices in the coal mining and washing industry increased by 1.6%, and the prices for photovoltaic equipment manufacturing rose by 0.6%, indicating some recovery in specific sectors [20][21]. Price Changes in Goods and Services - In October, food and beverage prices decreased by 1.6% year-on-year, contributing to a 0.46 percentage point drop in CPI [5]. - The prices of other goods showed mixed results, with categories like other goods and services, and clothing prices rising by 12.8% and 1.7% respectively [5][7]. - Month-on-month, food prices increased by 0.2%, driven by a 4.3% rise in fresh vegetable prices [7][18]. Summary of Economic Policies - The ongoing expansion of domestic demand policies has positively impacted consumer prices, particularly during the National Day and Mid-Autumn Festival holidays [2][17]. - The improvement in supply-demand relationships in certain industries and the transmission of international commodity prices have also played a role in stabilizing producer prices [2][20].

Core Insights - The report from the Guangdong Investigation Team of the National Bureau of Statistics highlights the economic performance of Guangdong residents in the first three quarters of the year, showing a nominal increase in per capita disposable income and consumption expenditure. Income Analysis - In the first three quarters, the per capita disposable income of Guangdong residents reached 42,842 yuan, reflecting a year-on-year growth of 4.4%, with a real growth of 4.7% after adjusting for price factors [1] - Urban residents had a per capita disposable income of 51,187 yuan, growing by 3.9%, while rural residents saw a higher growth rate of 5.5%, with a per capita disposable income of 22,308 yuan [1] - All four major income sources experienced growth: per capita wage income was 28,909 yuan (up 4.6%), per capita operating net income was 5,629 yuan (up 5.1%), per capita property net income was 5,375 yuan (up 2.8%), and per capita transfer net income was 2,929 yuan (up 3.7%) [1] Consumption Expenditure - The per capita consumption expenditure for Guangdong residents was 27,912 yuan, marking a year-on-year increase of 4.3% [1] - Urban residents had a per capita consumption expenditure of 32,166 yuan (up 4.3%), while rural residents spent 17,446 yuan (up 3.2%) [1] Consumption Categories - Among eight major categories of consumption expenditure, six categories saw increases while two categories experienced declines. Notable increases included education, culture, and entertainment (up 14.4%) and other goods and services (up 15.3%) [2] - Conversely, clothing and medical care saw declines in expenditure, with clothing down 1.8% and medical care down 4.8% [2] Price Trends - The Consumer Price Index (CPI) for Guangdong residents decreased by 0.3% year-on-year, with a slight narrowing of the decline compared to the first half of the year [2] - The core CPI, excluding food and energy prices, increased by 0.2%, reflecting a growth acceleration compared to the previous year and the first half of the year [2] - The Producer Price Index (PPI) for industrial producers fell by 1.5%, with a slight narrowing of the decline compared to the previous year [2]