Core Insights - In October, there was a positive change in consumer prices, with a month-on-month increase and a year-on-year shift from decline to growth [1][3]. Group 1: Month-on-Month Changes - The Consumer Price Index (CPI) rose by 0.2% month-on-month, an increase of 0.1 percentage points from the previous month, driven by expanded holiday consumption and rising industrial goods prices [3]. - Holiday travel demand led to increased transportation and accommodation prices, with hotel prices rising by 8.6%, flight tickets by 4.5%, and tourism prices by 2.5% [3]. - Food prices increased by 0.3% month-on-month, with fresh vegetables, lamb, fresh fruits, shrimp, and beef seeing price increases between 0.5% and 4.3% [3]. - Industrial consumer goods prices rose by 0.3% month-on-month, contributing to the CPI increase [3]. Group 2: Year-on-Year Changes - The CPI increased by 0.2% year-on-year, reversing the previous month's decline of 0.3%, with core CPI (excluding food and energy) rising by 1.2%, an increase of 0.2 percentage points from the previous month [3][4]. - Service prices saw a year-on-year increase of 0.8%, with notable rises in air ticket and hotel prices, reflecting ongoing consumer upgrades and increased demand for high-quality services [4]. - Industrial consumer goods prices rose by 2% year-on-year, marking six consecutive months of growth, with household appliances and durable goods seeing price increases between 2.4% and 5% [4]. - The downward pressure from food and energy prices has lessened, with food prices down 2.9% and energy prices down 2.4% year-on-year, but the decline rates have narrowed compared to the previous month [4]. Group 3: Market Outlook - The overall market demand remains insufficient, and prices are operating at a low level despite positive changes in consumer prices [5]. - Future measures will focus on expanding domestic demand, promoting a unified national market, optimizing the competitive environment, and improving supply-demand relationships to facilitate reasonable price recovery [5].