1月份，居民消费需求持续恢复，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0.8%。受全国统一大市场建设持续推进、部分行业需求增加及国际大宗 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0.4%，同比下降1.4%。 股票频道更多独家策划、专家专栏，免费查阅>> 一、CPI同比涨幅回落主要受春节错月影响，核心CPI保持温和上涨 责任编辑：山上 二、PPI环比继续上涨，同比降幅收窄 PPI环比上涨0.4%，连续4个月上涨，涨幅比上月扩大0.2个百分点。本月PPI环比运行的主要特点：一是 全国统一大市场建设持续推进带动部分行业价格上涨。水泥制造、锂离子电池制造价格环比均上涨 0.1%，均连续4个月上涨；光伏设备及元器件制造价格由上月下降0.2%转为上涨1.9%，基础化学原料制 造价格由下降0.1%转为上涨0.7%，黑色金属冶炼和压延加工业价格由下降0.1%转为上涨0.2%。二是需 求增加带动相关行业价格上涨。人工智能等数字化技术加快发展、算力需求增长带动计算机通信和其他 电子设备制造业价格环比上涨0.5%，其中电子半导体材料、外存储设备及 ...

国家统计局最新公布的数据显示，1月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0.8%。国家统计局城市司首席统计师董莉娟表示，CPI同比涨幅有所回落主要有两方面原 因：一是春节错月影响。去年1月为春节月，食品和部分服务价格上涨较多，导致上年基数较高，带动 本月同比涨幅回落较多。二是国际油价变动导致能源价格降幅扩大。我国居民消费需求持续恢复，核心 CPI温和上涨的态势没有改变。 国家统计局最新公布的数据显示，1月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0.8%。国家统计局城市司首席统计师董莉娟表示，CPI同比涨幅有所回落主要有两方面原 因：一是春节错月影响。去年1月为春节月，食品和部分服务价格上涨较多，导致上年基数较高，带动 本月同比涨幅回落较多。二是国际油价变动导致能源价格降幅扩大。我国居民消费需求持续恢复，核心 CPI温和上涨的态势没有改变。 ...

【纠错】 【责任编辑:吴京泽】 编导：赵宇超 新华社音视频部制作 记者：王雨萧、何晓 ...

Core Viewpoint - Inflation is accelerating, with January CPI showing a month-on-month increase of 0.2%, marking the second consecutive month of positive growth. Core CPI, excluding food and energy, rose by 0.3%, the highest in six months, surpassing similar periods in 2015 and 2018. January PPI increased by 0.4%, reaching the highest point since May 2022 [5][6][7]. Group 1: Inflation Data Analysis - January CPI increased by 0.2% month-on-month, consistent with the previous value. Core CPI rose by 0.3%, higher than the previous value of 0.2% and equal to January 2023's 0.4%, marking the highest since August 2025 [6]. - January PPI increased by 0.4%, matching the previous month and reaching the highest level since May 2022. The base period adjustment and weight changes had a minor impact on the data, with an estimated effect of 0.06-0.08 percentage points on month-on-month growth rates [7][8]. Group 2: Price Increases in CPI - Notable month-on-month price increases in CPI include seasonal rises in tourism and service prices, with tourism prices up by 1.8% and service prices up by 0.2%. Specific increases include airfare (5.7%) and travel agency fees (2.0%) [2][8]. - The "CPI within PPI" category for household appliances continued to rise by 0.7%, with year-on-year growth increasing from 5.9% to 6.6%. Communication tools also saw a month-on-month increase of 0.9%, with year-on-year growth at 1.3% [2][8]. - Pork prices experienced their first month-on-month increase in six months, rising by 1.2% in January [2]. Group 3: Price Decreases in CPI - Certain categories, such as alcoholic beverages and rental housing, continued to show month-on-month declines. These categories are significant for the capital market, reflecting shifts in consumer behavior and economic cycles [2][9][10]. Group 4: PPI Price Increases - In January, prices for globally priced non-ferrous metals rose significantly, with non-ferrous metal mining and smelting increasing by 5.7% and 5.2%, respectively. Other sectors, including cement manufacturing and lithium-ion battery production, also saw increases [3][14][15]. - The automotive manufacturing sector reported zero growth, marking the first month without a decline in seven months. Prices in the AI industry chain, particularly for computer communication electronics, rose by 0.5% [3][16]. Group 5: Simulated Deflation Index - The simulated deflation index showed a year-on-year decline from -0.28% to -0.44% due to the timing of the Spring Festival, despite a month-on-month CPI increase. The index is expected to improve in February, potentially returning to around -0.28% [3][16].

服务价格上涨0.1%，影响CPI同比上涨约0.05个百分点，对CPI同比的上拉影响比上月减少约0.2个百分点。服务中，飞机票、旅行社收费和家政服务价格 分别下降14.3%、7.7%和3.5%，三项合计影响CPI同比下降约0.16个百分点，而上月其对CPI同比影响为上拉约0.04个百分点。 国家统计局2月11日发布的数据显示，1月份，居民消费需求持续恢复，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0.8%；工业生产者出厂价格指数（PPI）环比上涨0.4%，同比下降1.4%。 核心CPI保持温和上涨 1月CPI同比上涨0.2%，涨幅有所回落。对此，国家统计局城市司首席统计师董莉娟认为，主要受春节错月影响。上年1月份为春节月份，食品和部分服务 价格上涨较多，导致上年同期对比基数较高，带动1月同比涨幅回落较多。 图片来源：国家统计局 分类别看，食品价格下降0.7%，影响CPI同比下降约0.11个百分点，而上月对CPI的影响为上拉约0.21个百分点。食品中，鲜菜价格上涨6.9%，涨幅比上月 回落11.3个百分点，对CPI同比的上拉影响比上月回落约0.27个百分 ...

Group 1 - The core viewpoint of the articles indicates a continuous recovery in consumer demand, with the Consumer Price Index (CPI) showing a slight increase while the Producer Price Index (PPI) has also risen, reflecting various economic factors [1][4][5] Group 2 - In January, the CPI increased by 0.2% month-on-month and year-on-year, while the core CPI, excluding food and energy, rose by 0.8% year-on-year [1] - The decline in food prices, particularly a 0.7% drop, contributed to a decrease in the CPI's year-on-year growth rate, with fresh vegetable prices rising by 6.9% but showing a reduced growth rate compared to the previous month [2][3] - Energy prices fell by 5.0% in January, impacting the CPI negatively by approximately 0.34 percentage points, with gasoline prices down 11.4% year-on-year [2][3] Group 3 - The PPI increased by 0.4% month-on-month, marking the fourth consecutive month of growth, driven by the ongoing development of a unified national market and increased demand in certain sectors [4][5] - Specific industries such as cement manufacturing and lithium-ion battery production saw price increases, while the prices of photovoltaic equipment turned from a decline to an increase of 1.9% [4] - Year-on-year, the PPI decreased by 1.4%, but the decline was less severe than in the previous month, with notable increases in the prices of non-ferrous metal mining and manufacturing sectors [5]

2月11日，国家统计局公布今年1月份最新CPI、PPI数据。 2026年1月份居民消费价格同比上涨0.2% 2026年1月份，全国居民消费价格同比上涨0.2%。其中，城市上涨0.2%，农村上涨0.1%；食 品价格下降0.7%，非食品价格上涨0.4%；消费品价格上涨0.3%，服务价格上涨0.1%。 1月份，全国居民消费价格环比上涨0.2%。其中，城市上涨0.2%，农村上涨0.2%；食品价格持 平，非食品价格上涨0.2%；消费品价格上涨0.2%，服务价格上涨0.2%。 2026年1月份，全国工业生产者出厂价格同比下降1.4%，降幅比上月收窄0.5个百分点；环比 上涨0.4%，涨幅比上月扩大0.2个百分点。工业生产者购进价格同比下降1.4%，降幅比上月收 窄0.7个百分点；环比上涨0.5%，涨幅比上月扩大0.1个百分点。 什么是基期轮换？ 按照官方的定义，CPI的"基期轮换"是指对居民消费价格指数（CPI）的统计基期、商品和服 务篮子以及权重等进行定期调整的工作。通俗一点说，基期轮换，就是把统计的 "对比起点" 更新一下，以前拿2020年的"一篮子"价格当对比基准，现在换成 2025 年的"一篮子"价格当基 准，这 ...

一、CPI同比涨幅回落主要受春节错月影响，核心CPI保持温和上涨 CPI同比涨幅有所回落，主要有以下两方面原因：一是春节错月影响。上年1月份为春节月份，食品和 部分服务价格上涨较多，导致上年同期对比基数较高，带动本月同比涨幅回落较多。分类别看，食品价 格下降0.7%，影响CPI同比下降约0.11个百分点，而上月对CPI的影响为上拉约0.21个百分点。食品中， 鲜菜价格上涨6.9%，涨幅比上月回落11.3个百分点，对CPI同比的上拉影响比上月回落约0.27个百分 点；鲜果价格上涨3.2%，涨幅比上月回落1.2个百分点；猪肉和鸡蛋价格分别下降13.7%和10.6%。服务 价格上涨0.1%，影响CPI同比上涨约0.05个百分点，对CPI同比的上拉影响比上月减少约0.20个百分点。 服务中，飞机票、旅行社收费和家政服务价格分别下降14.3%、7.7%和3.5%，三项合计影响CPI同比下 降约0.16个百分点，而上月其对CPI同比影响为上拉约0.04个百分点。二是国际油价变动导致能源价格 降幅扩大。1月份能源价格下降5.0%，影响CPI同比下降约0.34个百分点，对CPI同比的下拉影响比上月 增加约0.06个百分点，其 ...

Core Viewpoint - The Consumer Price Index (CPI) has shown a year-on-year decline in January 2026, primarily due to the impact of the Spring Festival timing and changes in international oil prices [1] Group 1: CPI Analysis - The year-on-year increase in CPI has decreased due to two main reasons: the high base effect from last year's Spring Festival and changes in food and service prices [1] - Food prices decreased by 0.7%, contributing approximately 0.11 percentage points to the decline in CPI year-on-year, while last month, food prices had a positive impact of about 0.21 percentage points [1] - Fresh vegetable prices increased by 6.9%, but the growth rate fell by 11.3 percentage points compared to the previous month, reducing its positive impact on CPI by approximately 0.27 percentage points [1] - Fresh fruit prices rose by 3.2%, with a decrease in growth rate of 1.2 percentage points from the previous month [1] - Pork and egg prices fell by 13.7% and 10.6%, respectively [1] - Service prices increased by 0.1%, contributing about 0.05 percentage points to the CPI year-on-year increase, but this was a reduction of approximately 0.20 percentage points compared to the previous month [1] - The prices of airline tickets, travel agency fees, and housekeeping services decreased by 14.3%, 7.7%, and 3.5%, respectively, collectively impacting CPI by approximately -0.16 percentage points [1] Group 2: Energy Price Impact - Energy prices fell by 5.0% in January, contributing approximately 0.34 percentage points to the decline in CPI year-on-year, with this downward impact increasing by about 0.06 percentage points compared to the previous month [1] - Gasoline prices decreased by 11.4%, with the decline rate expanding by 3.0 percentage points from the previous month [1]

Group 1: CPI Analysis - The Consumer Price Index (CPI) increased by 0.2% month-on-month and year-on-year, with the core CPI (excluding food and energy) rising by 0.8% year-on-year [1] - The year-on-year CPI growth rate declined mainly due to the high base effect from the previous year's Spring Festival, with food prices decreasing by 0.7%, impacting the CPI by approximately 0.11 percentage points [1] - Energy prices fell by 5.0% in January, contributing to a year-on-year CPI decrease of about 0.34 percentage points, with gasoline prices down 11.4% [1] Group 2: Core CPI Trends - The core CPI (excluding food and energy) rose by 0.3% month-on-month, marking the highest increase in six months [2] - Prices for air tickets and travel agency services increased by 5.7% and 2.0% respectively, while prices for household appliances and personal care products saw increases between 0.7% and 1.4% [2] - The year-on-year increase in industrial consumer goods prices (excluding energy) expanded to 2.6%, with gold jewelry prices surging by 77.4% [2] Group 3: PPI Analysis - The Producer Price Index (PPI) rose by 0.4% month-on-month, marking the fourth consecutive month of increases, with the growth rate expanding by 0.2 percentage points from the previous month [3] - The increase in PPI was driven by the ongoing construction of a unified national market, leading to price rises in sectors such as cement manufacturing and lithium-ion battery production [3] - The year-on-year PPI decline narrowed to 1.4%, with significant price increases in the non-ferrous metal mining sector (up 22.7%) and cultural and educational products manufacturing (up 21.2%) [4]