Group 1 - In November, China's CPI increased by 0.7% year-on-year, matching expectations, and up from 0.2% in the previous month [1][19] - The PPI decreased by 2.2% year-on-year, slightly worse than the expected decline of 2.0% and a previous decline of 2.1% [1][19] - The rise in CPI was driven by a significant rebound in food prices, while PPI's decline was influenced by high base comparisons from the previous year and ongoing supply-demand structural optimization in certain industries [20][21] Group 2 - The overall improvement in domestic supply-demand relationships is expected to lead to a gradual narrowing of PPI declines, supported by ongoing capacity governance in key industries [20][21] - International commodity prices have generally risen, while domestic demand remains weak, but some industries are experiencing price increases due to improved supply-demand fundamentals [20][21] - The core CPI maintained a high year-on-year growth rate of 1.2%, with non-food prices rising by 0.8%, indicating effective consumer demand policies [20][21] Group 3 - Food prices shifted from a decline of 2.9% last month to an increase of 0.2%, significantly impacting the CPI [20][21] - Energy prices fell by 3.4% year-on-year, contributing to the overall inflationary pressure [20][21] - The service sector saw price increases, with notable rises in household appliances and clothing prices, reflecting the effectiveness of domestic demand expansion policies [20][21]

12月10日，国家统计局发布的最新数据显示，11月扣除食品和能源价格的核心CPI同比上涨1.2%，其中金饰品价格同 比涨幅扩大至58.4%。 整体来看，11月份，居民消费价格指数（CPI）环比略降0.1%，同比上涨0.7%。工业生产者出厂价格指数（PPI）环比 上涨0.1%，同比下降2.2%。 从环比看，11月份PPI上涨0.1%，连续两个月上涨。具体而言，一是部分行业需求季节性增加带动其价格上涨。例如 各地"迎峰度冬"开始，煤炭、燃气需求季节性增加，防寒保暖产品进入消费旺季。二是受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，有色金属矿采选业价格环比上涨2.6%，石油和天然气开采业价格下降2.4%。 同比涨幅扩大主要是食品价格由降转涨拉动。尤其是鲜菜价格由上月下降7.3%转为上涨14.5%，为连续下降9个月后首 次转涨；鲜果价格由上月下降2.0%转为上涨0.7%；牛肉和羊肉价格分别上涨6.2%和3.7%，涨幅均有扩大；猪肉和禽 肉类价格分别下降15.0%和0.6%，降幅均有收窄。 CPI同比涨幅扩大 此外，11月扣除食品和能源价格的核心CPI同比上涨1.2%，涨幅连续3个月保持在1%以上。扩内需政 ...

Group 1 - The consumer price index (CPI) increased by 0.1% month-on-month in September, while year-on-year it decreased by 0.3%, with the core CPI (excluding food and energy) rising by 1.0%, marking the fifth consecutive month of growth [1][2] - Food prices rose by 0.7% month-on-month, contributing approximately 0.13 percentage points to the CPI increase, while clothing prices increased by 0.8% due to seasonal changes [1] - The producer price index (PPI) remained flat month-on-month and decreased by 2.3% year-on-year, with the decline narrowing by 0.6 percentage points compared to the previous month [2][3] Group 2 - The year-on-year decline in CPI of 0.3% was primarily influenced by a negative carryover effect of approximately 0.8 percentage points, while new price changes contributed about 0.5 percentage points [2] - The PPI's month-on-month stability is attributed to improved supply-demand dynamics in certain industries, with coal processing prices rising by 3.8% and coal mining prices increasing by 2.5% [2][3] - The narrowing year-on-year decline in PPI is a result of ongoing macroeconomic policy effects, with some industries experiencing positive price changes due to market competition and structural upgrades [3]