Group 1 - In July, the Consumer Price Index (CPI) in Guangdong turned positive month-on-month, influenced by domestic demand expansion policies and the peak summer travel season, with a 0.5% increase [1] - Food prices decreased by 0.3%, while non-food prices increased by 0.6%, driven by significant travel demand during the summer, leading to a 29.8% rise in airfare prices and increases in tourism and accommodation costs [1] - The rental prices for private housing also increased due to heightened demand during the graduation season [1] Group 2 - The Producer Price Index (PPI) in Guangdong saw a month-on-month decline of 0.2%, with the rate of decline narrowing by 0.1 percentage points compared to the previous month [1] - Prices for production materials decreased by 0.3%, while prices for living materials fell by 0.1%, with the decline in living materials remaining stable [1] - Among the 38 major industries surveyed for PPI, 11 industries saw price increases, 25 experienced declines, and 2 remained unchanged, resulting in an industry increase rate of 28.9%, which is an expansion of 10.5 percentage points from the previous month [1]

Group 1 - The core viewpoint of the article indicates that the effects of policies aimed at expanding domestic demand are becoming increasingly evident, as reflected in the Consumer Price Index (CPI) data for July [1][4][6] - In July, the national CPI remained flat year-on-year, while it increased by 0.4% month-on-month, reversing a previous decline of 0.1% [1][4][5] - The core CPI, which excludes food and energy prices, rose by 0.8% year-on-year, marking an expansion in growth for three consecutive months [1][4][6] Group 2 - The increase in CPI is primarily driven by rising prices in services and industrial consumer goods [3]

Group 1 - The core viewpoint of the article highlights that in July, the effects of policies to expand domestic demand are becoming evident, with the Consumer Price Index (CPI) remaining flat year-on-year and increasing by 0.4% month-on-month after a previous decline of 0.1% [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] - Food prices decreased by 1.6% year-on-year, while non-food prices increased by 0.3% [1] Group 2 - The average CPI from January to July showed a decline of 0.1% compared to the same period last year [1] - The analysis indicates that the flat year-on-year CPI is primarily influenced by lower food prices, particularly fresh vegetable prices, which fell by 7.6% year-on-year, with a significant increase in the rate of decline [1] - Service prices increased by 0.6% month-on-month, contributing approximately 0.26 percentage points to the CPI increase, accounting for over 60% of the total rise [1]

Core Insights - The consumer price index (CPI) in China remained flat year-on-year in July, with a month-on-month increase of 0.4%, reversing a previous decline of 0.1% [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] Price Trends - Food prices decreased by 1.6% year-on-year, while non-food prices increased by 0.3% [1] - Consumer goods prices fell by 0.4% year-on-year, whereas service prices rose by 0.5% [1] - The average CPI from January to July showed a decline of 0.1% compared to the same period last year [1] Influencing Factors - The flat year-on-year CPI was primarily influenced by lower food prices, particularly fresh vegetables, which saw a 7.6% decrease, expanding the decline by 7.2 percentage points compared to the previous month [1] - Fresh fruit prices increased by 2.8% year-on-year, but the growth rate fell by 3.3 percentage points from the previous month [1] - The month-on-month increase in CPI was driven mainly by rising service prices, which increased by 0.6%, contributing approximately 0.26 percentage points to the CPI increase [1] - Industrial consumer goods prices rose by 0.5% month-on-month, with an increase of 0.4 percentage points compared to the previous month, contributing about 0.17 percentage points to the CPI rise [1]

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]

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].

Core Viewpoint - The article discusses the recent trends in China's Consumer Price Index (CPI) and Producer Price Index (PPI), highlighting the impact of seasonal factors and international trade uncertainties on these indices. It notes a shift in CPI from a decline to an increase, while PPI continues to show a decrease but at a reduced rate. CPI Analysis - In July, the CPI increased by 0.4% month-on-month, reversing a previous decline of 0.1%, with year-on-year growth remaining flat [2] - The year-on-year CPI was primarily influenced by lower food prices, which fell by 1.6%, a decline that widened by 1.3 percentage points compared to the previous month, contributing approximately 0.29 percentage points to the CPI's year-on-year decline [2] - Non-food prices rose by 0.3% year-on-year, an increase of 0.2 percentage points from the previous month [2] - Seasonal factors, particularly the summer travel season, led to significant increases in service prices, with airfares, tourism, and accommodation costs rising by 17.9%, 9.1%, and 6.9% respectively [5] PPI Analysis - The PPI decreased by 0.2% month-on-month in July, but the rate of decline narrowed by 0.2 percentage points, marking the first reduction in the rate of decline since March [7] - The decline in PPI was attributed to seasonal factors and uncertainties in the international trade environment, which affected prices in several industries [7] - Specific industries such as non-metallic mineral products, black metal smelting, and coal mining saw price declines of 1.4%, 0.3%, and 1.5% respectively [7] - The competitive market environment has improved, leading to a reduction in the rate of price decline in several sectors, including coal and steel [8] Future Price Trends - The National Bureau of Statistics anticipates a moderate recovery in prices in the second half of the year, supported by stable economic performance, effective domestic demand policies, and reduced low-price competition among enterprises [9]