Interpretation: CPI Rose In January 2020, PPI Rose Steadily.

The National Bureau of statistics released today's January national CPI (consumer price index) and PPI (producer price index of industrial producer) data in 2020. In this regard, Dong Lijuan, Senior Statistician of the National Bureau of statistics, explained.

　　 First, the CPI ratio rose from flat to year-on-year, increasing year by year.

From the point of view of CPI, the level of CPI rose to 1.4% last month, mainly due to the epidemic of pneumonia caused by Spring Festival and new coronavirus infection. Among them, food prices fell from 0.4% last month to 4.4%, affecting CPI rose by 0.96 percentage points, non food prices rose 0.6%, an increase of 0.5 percentage points from last month, affecting CPI rose by 0.43 percentage points. The prices of fresh vegetables and pork rose by 15.3% and 8.5% respectively, and the prices of fresh fruits and aquatic products rose by 5.5% and 4.5% respectively. Eggs, chicken and duck were supplied with adequate prices, falling by 3.7%, 1.7% and 1% respectively. In the case of non food, the prices of some services increased significantly after the return of urban migrant workers before the Spring Festival. The prices of hair salons, housekeeping services, vehicle repair and maintenance increased by 5.2%, 4.7% and 4.6% respectively. The price of gasoline and diesel rose by 2.7% and 3% respectively, due to the adjustment of pre production oil prices.

From the year-on-year perspective, CPI rose 5.4%, or 0.9 percentage points from last month. The year-on-year increase has both the impact of the Spring Festival and the new crown pneumonia epidemic. There are also factors that are lower than those of the wrong month last year and last year. Among them, food prices rose 20.6%, an increase of 3.2 percentage points, affecting CPI rose about 4.10 percentage points, non food prices rose 1.6%, or 0.3 percentage points, affecting CPI rose by 1.29 percentage points. The price of fresh fruit dropped by 5% in food, falling for four consecutive months; egg prices rose 2.8%, or 4.5 percentage points, while beef, mutton, chicken and duck prices rose by 10.4% to 20.2%, and fell to varying degrees; pork prices rose 116%; fresh vegetable prices rose 17.1%. Prices of health care, education, culture and entertainment, transportation and communications increased by 2.3%, 2.2% and 0.9% respectively. The core CPI, excluding food and energy prices, rose 1.5%, an increase of 0.1 percentage points from last month. It is estimated that in the 5.4% year-on-year increase in January, the impact of the price change last year was about 4 percentage points, and the impact of the new price increase was about 1.4 percentage points.

In January, Hubei's CPI rose 1.5%, an increase of 5.5% over the same period, or roughly the same as that of the whole country, reflecting the positive results of the local market's support for stable prices.

　　 Two, PPI was flat, down from the same period last year.

From the ring to see, the national PPI has been flat for two consecutive months. Among them, the prices of means of production and means of living are flat. From the 40 industrial sectors surveyed, 17 prices rose, 18 fell, and 5 were flat. In the main industries, the oil and natural gas extraction industry increased by 4.3%, an increase of 0.5 percentage points from last month, and the oil, coal and other fuel processing industries increased by 1.8% and 1.1 percentage points respectively. The black metal smelting and calendering processing industry decreased by 0.6%, and the non-metallic mineral products industry decreased by 0.1%. The coal mining and washing industry narrowed down by 0.6%, narrowed by 0.2 percentage points, and chemical raw materials and chemical products manufacturing decreased by 0.4%, narrowing by 0.4 percentage points. The non-ferrous metal smelting and calendering processing industry increased by 0.6%.

From the year-on-year perspective, PPI fell from 0.5% last month to 0.1%. Among them, the prices of means of production fell by 0.4%, and the price of living goods rose by 1.3%. In the main industries, the oil and natural gas extraction industry increased by 17.5%, an increase of 11.7 percentage points from last month, and non-ferrous metal smelting and calendering processing industry increased by 2.4%, expanding by 1.3 percentage points. The oil, coal and other fuel processing industries rose by 4.6%, and ferrous metal smelting and calendering processing industry increased by 0.7%. Coal mining and washing industry decreased by 4.1%, and the decline increased by 0.5 percentage points. Chemical raw materials and chemical products manufacturing industry fell 4.3%, the decline narrowed by 0.9 percentage points. It is estimated that the year-on-year increase of 0.1% in January was the last half of last year's price changes.