12月10日，国家统计局发布的最新数据显示， 2025年11月份，全国居民消费价格同比上涨0.7% 。其中，城市上涨0.7%，农村上涨0.4%；食品价格 上涨0.2%，非食品价格上涨0.8%；消费品价格上涨0.6%，服务价格上涨0.7%。1—11月平均，全国居民消费价格与上年同期持平。 11月份， 全国居民消费价格环比下降0.1%。 其中，城市下降0.1%，农村持平；食品价格上涨0.5%，非食品价格下降0.2%；消费品价格上涨0.1%， 服务价格下降0.4%。 来源｜国家统计局官网 编辑 ｜ 钉钉 2025年11月份， 全国工业生产者出厂价格同比下降2.2% ，工业生产者购进价格同比下降2.5%；工业生产者出厂价格和购进价格环比均上涨0.1%， 涨幅均与上月相同。1—11月平均，工业生产者出厂价格比上年同期下降2.7%，工业生产者购进价格下降3.1%。 ...

——国家统计局城市司首席统计师董莉娟解读2025年11月份CPI和PPI数据 智通财经APP获悉，12月10日，国家统计局城市司首席统计师董莉娟解读2025年11月份CPI和PPI数据。 11月份，居民消费持续恢复，居民消费价格指数(CPI)环比略降0.1%，同比上涨0.7%，扣除食品和能源 价格的核心CPI同比上涨1.2%。受国内部分行业供需结构优化、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)环比上涨0.1%，同比下降2.2%。董莉表示，CPI同比涨幅扩大主要是食品价 格由降转涨拉动，CPI环比下降主要受服务价格季节性下降影响。本月PPI环比运行的主要特点：一是国 内部分行业需求季节性增加带动其价格上涨。二是输入性因素影响国内有色金属和石油相关行业价格走 势分化。PPI同比下降主要受上年同期对比基数走高影响。 原文如下： 2025年11月份CPI同比涨幅扩大 核心CPI继续上涨 11月份，居民消费持续恢复，居民消费价格指数(CPI)环比略降0.1%，同比上涨0.7%，扣除食品和能源 价格的核心CPI同比上涨1.2%。受国内部分行业供需结构优化、国际大宗商品价格传导等因素影响，工 业生 ...

国家统计局数据显示， 2025年11月份，全国居民消费价格同比上涨0.7%。 其中，城市上涨0.7%，农村上涨0.4%；食品价格上涨 0.2%，非食品价格上涨0.8%；消费品价格上涨0.6%，服务价格上涨0.7%。1—11月平均，全国居民消费价格与上年同期持平。 11月份，全国居民消费价格环比下降0.1%。其中，城市下降0.1%，农村持平；食品价格上涨0.5%，非食品价格下降0.2%；消费品价格上 涨0.1%，服务价格下降0.4%。 一、各类商品及服务价格同比变动情况 11月份，食品烟酒类价格同比上涨0.3%，影响CPI（居民消费价格指数）上涨约0.09个百分点。食品中，鲜菜价格上涨14.5%，影响CPI上 涨约0.31个百分点；水产品价格上涨1.5%，影响CPI上涨约0.03个百分点；鲜果价格上涨0.7%，影响CPI上涨约0.01个百分点；蛋类价格 下降12.5%，影响CPI下降约0.08个百分点；畜肉类价格下降6.6%，影响CPI下降约0.20个百分点，其中猪肉价格下降15.0%，影响CPI下 降约0.21个百分点；粮食价格下降0.4%，影响CPI下降约0.01个百分点。 其他七大类价格同比五涨一平一降。 ...

Core Viewpoint - The National Bureau of Statistics reported that in November 2025, the national consumer price index (CPI) increased by 0.7% year-on-year, with urban areas rising by 0.7% and rural areas by 0.4% [1][3] Price Changes Overview - In November, the prices of food, tobacco, and alcohol rose by 0.3% year-on-year, contributing approximately 0.09 percentage points to the CPI increase [3] - Fresh vegetable prices surged by 14.5%, impacting the CPI by approximately 0.31 percentage points, while pork prices fell by 15.0%, reducing the CPI by about 0.21 percentage points [3][7] - The average CPI for January to November remained unchanged compared to the same period last year [1] Monthly Price Changes - In November, the CPI decreased by 0.1% month-on-month, with urban areas also declining by 0.1% and rural areas remaining stable [1][7] - Food prices increased by 0.5% month-on-month, while non-food prices decreased by 0.2% [1][7] - Among various categories, other goods and services, clothing, and healthcare saw month-on-month price increases of 1.2%, 0.7%, and 0.1%, respectively [5][7] Detailed Price Movements - The prices of fresh vegetables rose by 7.2% month-on-month, contributing 0.17 percentage points to the CPI [5] - Conversely, prices for aquatic products and eggs fell by 1.8%, each contributing a decrease of 0.03 and 0.01 percentage points to the CPI, respectively [5][7] - Transportation and communication prices decreased by 0.9% month-on-month, reflecting a decline of 2.3% year-on-year [7]

Core Insights - In November 2025, the national consumer price index (CPI) increased by 0.7% year-on-year, with urban areas rising by 0.7% and rural areas by 0.4% [1] - The average CPI from January to November remained unchanged compared to the same period last year [1] - Month-on-month, the CPI decreased by 0.1% in November, with urban areas also declining by 0.1% while rural areas remained stable [1] Price Changes Year-on-Year - In November, the prices of food, tobacco, and alcohol increased by 0.3%, contributing approximately 0.09 percentage points to the CPI [2] - Fresh vegetable prices surged by 14.5%, impacting the CPI by about 0.31 percentage points, while pork prices fell by 15.0%, reducing the CPI by approximately 0.21 percentage points [2] - Other categories showed mixed results, with significant increases in other goods and services (14.2%), clothing (1.9%), and healthcare (1.6%), while transportation and communication prices decreased by 2.3% [2] Price Changes Month-on-Month - In November, food, tobacco, and alcohol prices rose by 0.3%, contributing around 0.07 percentage points to the CPI [3] - Fresh vegetable prices increased by 7.2%, adding approximately 0.17 percentage points to the CPI, while pork prices decreased by 2.2%, impacting the CPI negatively by about 0.03 percentage points [3] - Other categories experienced a mix of increases and decreases, with other goods and services (1.2%) and clothing (0.7%) rising, while transportation and education prices fell by 0.9% and 0.8%, respectively [3]

Core Viewpoint - In November 2025, the national consumer price index (CPI) increased by 0.7% year-on-year, with urban areas rising by 0.7% and rural areas by 0.4%. Food prices rose by 0.2%, while non-food prices increased by 0.8% [1][9]. Year-on-Year Price Changes - In November, the prices of food, tobacco, and alcohol increased by 0.3%, contributing approximately 0.09 percentage points to the CPI. Notably, fresh vegetable prices surged by 14.5%, adding about 0.31 percentage points to the CPI. Conversely, egg prices fell by 12.5%, reducing the CPI by approximately 0.08 percentage points [3][11]. - Among the seven major categories, five saw price increases, one remained stable, and one decreased. Other goods and services, daily necessities, and clothing prices rose by 14.2%, 2.1%, and 1.9%, respectively. Healthcare and education prices increased by 1.6% and 0.8%, while housing prices remained stable. Transportation and communication prices decreased by 2.3% [3][11]. Month-on-Month Price Changes - In November, the prices of food, tobacco, and alcohol rose by 0.3%, contributing approximately 0.07 percentage points to the CPI. Fresh vegetable prices increased by 7.2%, adding about 0.17 percentage points to the CPI. However, prices for water products and eggs decreased by 1.8% and 1.8%, respectively, impacting the CPI negatively [5][13]. - Among the seven major categories, three experienced price increases while four saw declines. Other goods and services, clothing, and healthcare prices rose by 1.2%, 0.7%, and 0.1%, respectively. In contrast, transportation and communication, as well as education and cultural entertainment prices, decreased by 0.9% and 0.8% [5][14].

Core Insights - In November 2025, the national consumer price index (CPI) increased by 0.7% year-on-year, with urban areas rising by 0.7% and rural areas by 0.4% [1] - The average CPI from January to November remained unchanged compared to the same period last year [1] - Month-on-month, the CPI decreased by 0.1% in November, with urban areas also declining by 0.1% while rural areas remained stable [1] Year-on-Year Price Changes - In November, food, tobacco, and alcohol prices rose by 0.3%, contributing approximately 0.09 percentage points to the CPI increase [2] - Fresh vegetable prices surged by 14.5%, impacting the CPI by approximately 0.31 percentage points; however, pork prices fell by 15.0%, leading to a CPI decrease of about 0.21 percentage points [2] - Other categories showed mixed results, with significant increases in other goods and services (14.2%), clothing (1.9%), and healthcare (1.6%), while transportation and communication prices dropped by 2.3% [2] Month-on-Month Price Changes - In November, food, tobacco, and alcohol prices increased by 0.3%, contributing around 0.07 percentage points to the CPI [3] - Fresh vegetable prices rose by 7.2%, affecting the CPI by approximately 0.17 percentage points, while pork prices decreased by 2.2%, leading to a CPI decrease of about 0.03 percentage points [3] - Other categories experienced three price increases and four decreases, with notable rises in other goods and services (1.2%) and clothing (0.7%), while transportation and education prices fell by 0.9% and 0.8% respectively [3]

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 本报记者 孟 珂 国家统计局12月10日将发布11月份居民消费价格指数（CPI）和工业生产者出厂价格指数（PPI）月度报 告，《证券日报》记者近日采访了多位业内专家，对数据进行前瞻。 在CPI方面，民生银行首席经济学家温彬在接受《证券日报》记者采访时表示，预计11月份CPI环比上 涨0.1%，同比上涨0.9%；兴业银行首席经济学家鲁政委也认为，11月份CPI同比或上涨0.9%，较10月份 上升0.7个百分点。 分析原因，温彬表示，从食品价格来看，11月份农产品批发价格200指数均值环比上涨4.4%。其中，由 于气温降低，蔬菜、水果供应量下降、运输难度与成本增加，价格分别环比上涨10.1%、1.3%；产能释 放叠加市场需求偏弱，猪肉、鸡蛋价格承压，环比分别下降0.6%、2.3%。能源价格方面，11月10日国 内成品油价格上调后，因全球原油供应过剩预期加剧、地缘风险溢价削减等因素影响国际油价波动下 行，又于24日下调，整体来看涨幅高于跌幅，从而带动能源价格上涨。 在鲁政委看来，消费品方面，11月份食品价格回升，CPI同比增速有望回升。11月 ...

Group 1: CPI Insights - The Consumer Price Index (CPI) for November is expected to show a month-on-month increase of 0.1% and a year-on-year increase of 0.9% [1] - Food prices are a significant factor, with wholesale agricultural product prices rising by an average of 4.4% month-on-month in November, driven by lower supply and increased transportation costs [1] - The price of vegetables and fruits increased by 10.1% and 1.3% respectively due to seasonal factors, while pork and egg prices faced downward pressure, decreasing by 0.6% and 2.3% respectively [1][2] Group 2: Core CPI and Service Sector - The core CPI is expected to see a decline, influenced by a service sector business activity index of 49.5%, which is lower than the previous month [2] - The housing market is entering a traditional off-season, with average rental prices in 50 cities decreasing by 0.6% month-on-month and 3.6% year-on-year [2] Group 3: PPI Insights - The Producer Price Index (PPI) is anticipated to rise by 0.2% month-on-month but decrease by 2.0% year-on-year [2][3] - Industrial product prices are generally declining, with notable decreases in glass prices by 7.1% and in coking coal and coke prices by 2.7% and 2.0% respectively [2] - Some industrial commodities like aluminum and copper saw slight increases of 1.3% and 1.0% month-on-month [2]

Core Viewpoint - In October, the Consumer Price Index (CPI) in Tianjin increased by 0.1% month-on-month and 0.4% year-on-year, with a cumulative increase of 0.1% from January to October [1] Group 1: Price Changes - In October, food prices rose by 0.1% and non-food prices also increased by 0.1% compared to September [1] - During the eight-day holiday period, hotel accommodation and travel agency fees increased by 5.9% and 2.1% respectively due to heightened travel demand [1] - Diesel and gasoline prices decreased by 0.9% influenced by international price transmission, while the prices of platinum, gold, and silver jewelry rose by 14.1%, 10.4%, and 3.8% respectively [1] Group 2: Year-on-Year Price Comparison - Compared to October of the previous year, prices for eight categories of goods and services showed four increases and four decreases [1] - Prices for other goods and services rose by 15.1%, while clothing, education, culture, entertainment, and daily necessities increased by 2.5%, 2.0%, and 0.9% respectively [1] - Conversely, transportation and communication, as well as food and tobacco prices decreased by 2.2% and 1.1%, while medical care and housing prices fell by 0.4% and 0.1% respectively [1]