Investment Rating - The report maintains an "Overweight" rating for the securities industry [4] Core Viewpoints - The securities industry index increased by 0.65% last week, underperforming the Shanghai and Shenzhen 300 index, which rose by 1.38%. Most stocks in the securities sector showed strong performance, with 34 stocks rising and 16 falling [2][9] - As of last Friday's close, the price-to-earnings (PE) ratio for the securities industry secondary index was 20.79, indicating a relatively reasonable valuation since January 2022, with notable elasticity in the sector [3][23] Summary by Sections Market Review - The Shanghai and Shenzhen 300 index experienced a weekly change of 1.38%, while the securities industry index saw a change of 0.65%. Within the sector, 34 stocks increased in value, and 16 stocks decreased [2][9] - The top five performing stocks were Changjiang Securities, Guohai Securities, Pacific Securities, Guosheng Financial Holdings, and Bank of China Securities [10] - The bottom five performing stocks were Guolian Minsheng, CITIC Securities, Great Wall Securities, Industrial Securities, and China International Capital Corporation [11] Weekly Investment Strategy - The securities industry index's increase of 0.65% last week was weaker than the overall market performance. However, the majority of stocks in the sector showed strong upward movement. The PE ratio of 20.79 suggests a reasonable valuation, with significant elasticity remaining in the sector [3][23]

作为反映消费价格变动的风向标，CPI（居民消费价格指数）是怎么调查出来的呢？9月12日，第 十六届"中国统计开放日"四川分会场活动启动仪式在成都市双流区举行。当天，记者走进一线，与CPI 采价员面对面交流，了解CPI的调查过程。 价格数据至关重要，如何从源头确保数据质量？ 我国CPI包括8个大类、268个基本分类的商品和服务价格，大部分数据需要采价员实地采集。仅成 都每月就需对全市462个采价点、食衣住行等8个大类2441个规格品进行直接调查，每月共调查数据1万 多笔。 "采价员没有节假日，春节也不例外。"国家统计局成都调查队消费价格调查处副处长曾玮茜介绍， 成都现有15名采价员，每人需负责多个区域、多个门类的采价任务。 "最多的一天跑了18个采价点，从锦江区的电影院到青羊区的超市，再到武侯区的农贸市场。"范月 说。 "三定原则"筑牢数据质量生命线 一线采价员每月采集上万笔数据 范月是国家统计局成都调查队消费价格调查处的一名采价员，每月5号、10号、15号、20号、25 号、30号是她固定的生鲜食品采价日。一大早，她就要前往成都市武侯区洗面桥街的一家农贸市场，进 行蔬菜、肉类、蛋类、水果、鱼的价格采集。 "每 ...

从8月份情况看，我国CPI（居民消费价格指数）环比持平，同比由平转降。 新华财经北京9月15日电 国家统计局新闻发言人付凌晖15日在国新办发布会上表示，当前我国价格的积 极变化在继续累积，但居民消费价格仍处于低位，下阶段要继续促进价格合理回升。 "也要看到，市场供求关系仍较突出，居民消费价格运行仍处于低位。"付凌晖说，下阶段要继续扩大国 内需求，实施好提振消费专项行动，持续扩大有效投资，纵深推进全国统一大市场建设，加强重点行业 产能治理，促进价格合理回升。 （文章来源：新华财经） "我们看到，今年8月份食品价格同比下降4.3%，降幅比上月扩大2.7个百分点，对CPI同比下拉影响比上 月扩大0.51个百分点。其中，猪肉、鲜菜和鸡蛋价格同比降幅均超过10%。"他表示，受食品价格同比 降幅扩大影响，8月份居民消费价格同比下降，但扣除食品和能源后的核心CPI同比上涨0.9%，涨幅比 上月扩大0.1个百分点，连续4个月涨幅扩大。可以看出，价格的积极变化在继续累积。核心CPI同比涨 幅扩大，主要是工业消费品价格和服务价格回升带动。 付凌晖说，8月份，居民消费价格同比由平转降，主要是受上年同期基数走高影响。去年8月份，由于 ...

其他七大类价格同比六涨一降。其中，其他用品及服务、衣着、生活用品及服务价格分别上涨8.6%、 1.8%和1.8%，教育文化娱乐、医疗保健、居住价格分别上涨1.0%、0.9%和0.1%;交通通信价格下降 2.4%。 二、各类商品及服务价格环比变动情况 8月份，食品烟酒类价格环比上涨0.3%，影响CPI上涨约0.09个百分点。食品中，鲜菜价格上涨8.5%，影 响CPI上涨约0.16个百分点;蛋类价格上涨1.5%，影响CPI上涨约0.01个百分点;鲜果价格下降2.8%，影响 CPI下降约0.06个百分点;水产品价格下降0.9%，影响CPI下降约0.02个百分点;猪肉价格下降0.5%，影响 CPI下降约0.01个百分点。 其他七大类价格环比一涨两平四降。其中，医疗保健价格上涨0.3%;居住、其他用品及服务价格均持平; 交通通信价格下降0.3%，衣着、生活用品及服务、教育文化娱乐价格均下降0.1%。 2025年8月份，全国居民消费价格同比下降0.4%。其中，城市下降0.3%，农村下降0.6%;食品价格下 降4.3%，非食品价格上涨0.5%;消费品价格下降1.0%，服务价格上涨0.6%。1—8月平均，全国居民消费 价格比 ...

从环比看，广东8月CPI上涨0.1%，涨幅比7月回落0.4个百分点，主要是受到暑期出行旺季临近尾声相关 商品和服务价格回落影响。 工业生产者出厂价格指数（PPI）方面，8月，受政策性因素、国际价格波动和供需变化影响，广东工业 生产者出厂价格指数（PPI）同比、环比降幅均收窄。 从同比看，PPI同比下降1.8%，降幅比7月收窄0.2个百分点。从环比看，PPI下降0.1%，降幅比7月收窄 0.1个百分点。煤炭、钢铁行业"反内卷"举措效应显现，焦炭供应收缩预期加强，上游铁矿石均价上 涨，炼钢及钢压延加工原材料成本上升推动黑色金属相关产品价格上涨，黑色金属矿采选业价格上涨 2.7%，黑色金属冶炼和压延加工业价格上涨2.0%。 受暑期消费旺季等因素影响，居民消费价格指数同比降幅收窄，扣除食品和能源价格的核心CPI同比上 涨0.6%，涨幅较7月扩大0.2个百分点。 从同比看，8月CPI降幅比7月收窄0.1个百分点。其中，食品价格下降1.9%，降幅比7月扩大0.8个百分 点，影响CPI下降约0.36个百分点。食品中，受上年同期对比基数较高影响，猪肉价格下降8.6%，降幅 比上月扩大6.2个百分点；鸡蛋价格下降5.2%；海水 ...

Group 1 - In August, the Consumer Price Index (CPI) in Sichuan experienced a month-on-month decline of 0.1%, reversing a previous increase of 0.4%, and a year-on-year decrease of 0.9%, with the decline widening by 0.5 percentage points compared to the previous month [1] - The month-on-month decline in CPI was influenced by three main factors: the end of the summer travel peak leading to a significant drop in air ticket prices by 11.9%, a reduction in refined oil prices, and seasonal discounts on certain clothing items [1] - The year-on-year decline in CPI was primarily driven by decreases in the prices of pork, fresh vegetables, and gasoline [1] Group 2 - In August, the price of pork decreased by 0.4% month-on-month and by 20.1% year-on-year, attributed to the concentrated market release of pigs and the off-peak consumption season [1] - Fresh vegetable prices increased by 3.4% month-on-month but decreased by 17.2% year-on-year, while fresh fruit prices fell by 3.7% month-on-month and by 4.6% year-on-year [1] - The effects of policies aimed at expanding domestic demand and promoting consumption are becoming evident, with household appliance prices rising by 3.1% year-on-year and durable entertainment goods increasing by 2.4% year-on-year [2]

Group 1 - In August, the Consumer Price Index (CPI) in Sichuan experienced a month-on-month decrease of 0.1%, reversing from a 0.4% increase in the previous month, and a year-on-year decline of 0.9%, with the decline rate widening by 0.5 percentage points compared to the previous month [1] - The month-on-month decline in CPI was influenced by three main factors: the end of the summer travel peak leading to a significant drop in air ticket prices by 11.9%, a reduction in refined oil prices, and seasonal discounts on certain clothing items [1] - The year-on-year decline in CPI was primarily driven by decreases in the prices of pork, fresh vegetables, and gasoline [1] Group 2 - In August, the price of pork decreased by 0.4% month-on-month and by 20.1% year-on-year, attributed to the concentrated market release of pigs and the off-peak consumption season [1] - Fresh vegetable prices increased by 3.4% month-on-month but decreased by 17.2% year-on-year, while fresh fruit prices fell by 3.7% month-on-month and by 4.6% year-on-year [1] - The effects of policies aimed at expanding domestic demand and promoting consumption are becoming evident, with household appliance prices rising by 3.1% year-on-year and durable entertainment goods increasing by 2.4% year-on-year [2]

Group 1 - In August, Jiangsu's consumer prices decreased by 0.5% year-on-year, with food prices down by 4.1% and non-food prices up by 0.4% [1] - From January to August, the province's consumer prices fell by 0.4% year-on-year, while in August, there was a month-on-month increase of 0.2% [1] - Among the eight categories of goods and services, five saw price increases and three saw declines in August [1] Group 2 - In August, the price changes for various goods and services showed three categories rising, four declining, and one remaining stable on a month-on-month basis [2] - Food and beverage prices increased by 0.6%, while housing prices decreased by 0.1% in August [2] - Specific food items saw significant price changes, with fresh vegetables up by 7.9% and pork down by 0.2% [2]

央视网消息：国家统计局9月10日发布的数据显示，8月份，消费市场运行总体平稳，全国居民消费价格指数（CPI）环比持平，同比下降 0.4%；工业生产者出厂价格指数（PPI）环比由上月下降0.2%转为持平；同比下降2.9%，降幅比上月有所收窄。 食品价格是影响居民消费价格指数（CPI）走势的重要因素，农业农村部监测显示，8月份全国猪肉价格连续4周下降，水果的价格也出现 季节性下行。来看记者在北京新发地批发市场的探访。 早上8时，在北京新发地农产品批发市场的猪肉销售大厅里，商户们正忙着切割、打包、销售猪肉产品。商户介绍，现在猪肉销售量比较 稳定，一天能卖七八头，排骨价格稍微落点，排骨一斤在十三四元。 数据显示，8月份，北京新发地市场白条猪批发平均价为每公斤16.87元，比7月份下降7.1%，比去年同期下降31.37%。据了解，猪肉价格 下降的主要原因是生猪供应略有过剩，加上集中出栏，使得市场8月份白条猪的日均上市量达到近5年同期高点。 8月份，PPI环比持平，结束连续8个月下行态势，同比下降2.9%，降幅比上月收窄0.7个百分点，为今年3月份以来首次收窄。专家表示， 我国加紧实施更加积极有为的宏观政策，企业无序竞争 ...

国家统计局城市司首席统计师董莉娟分析，CPI同比由平转降，主要是上年同期对比基数走高叠加 本月食品价格涨幅低于季节性水平所致。分类别看，主要是食品价格较低。8月食品价格环比上涨 0.5%，涨幅低于季节性水平约1.1个百分点。 PPI环比结束连续8个月下行态势。本月PPI环比变动的主要特点：一是供需关系改善影响部分能源 和原材料行业价格环比由降转涨，二是输入性因素影响国内石油和部分有色金属行业价格环比回落。 PPI同比下降2.9%，降幅比上月收窄0.7个百分点，为今年3月份以来首次收窄。 人民日报北京9月10日电（记者刘志强）记者从国家统计局获悉：8月份，消费市场运行总体平稳， 居民消费价格指数（CPI）环比持平，同比下降0.4%；随着扩内需促消费政策持续显效，扣除食品和能 源价格的核心CPI同比上涨0.9%，涨幅连续第四个月扩大；工业生产者出厂价格指数（PPI）环比由上 月下降0.2%转为持平。 ...