Core Insights - In October, the National Bureau of Statistics reported a 0.2% year-on-year increase in the Consumer Price Index (CPI), driven by policies aimed at expanding domestic demand and the impact of the National Day and Mid-Autumn Festival holidays [1] - The core CPI, excluding food and energy prices, has seen its year-on-year growth rate expand for the sixth consecutive month [1] - The Producer Price Index (PPI) shifted from flat in the previous month to a 0.1% increase, marking the first rise of the year, attributed to the effects of "anti-involution" policies that have improved supply and demand in certain industries [1] Economic Policies - The ongoing improvement in market supply and demand requires further release of the potential of "anti-involution" policies, which aim to optimize market competition and support reasonable price increases for related industrial products [1] - There is a need to enhance consumption policies to boost income and reduce burdens for low- to middle-income groups, thereby increasing their consumption capacity, willingness, and levels [1]

Core Viewpoint - The Producer Price Index (PPI) has increased by 0.1% month-on-month for the first time in 2023, indicating an improvement in supply-demand relationships across various industries [1] Group 1: PPI Trends - The month-on-month PPI has shifted from flat to an increase of 0.1%, marking the first rise this year [1] - Key industries experiencing price increases include coal mining and washing (up 1.6%), coal processing (up 0.8%), and photovoltaic equipment manufacturing (up 0.6), all of which have seen continuous price rises for over two months [1] - Other sectors such as cement manufacturing, computer assembly, lithium-ion battery manufacturing, and integrated circuit manufacturing have also transitioned from price declines to increases, with respective rises of 1.6%, 0.5%, 0.2%, and 0.2% [1] Group 2: Impact of External Factors - Domestic prices in the non-ferrous metals and petroleum-related industries have shown a divergence due to external factors [1] - The rise in international non-ferrous metal prices has led to a 5.3% increase in domestic non-ferrous metal mining prices and a 2.4% increase in non-ferrous metal smelting and rolling prices, with gold and copper smelting prices rising by 8.7% and 4.3%, respectively [1] - Conversely, the decline in international oil prices has resulted in a 2.3% decrease in domestic oil and natural gas extraction prices and a 0.8% decrease in refined petroleum product manufacturing prices [1]