Interpretation: In May, CPI turned the PPI increase in the month -on -month and continued to fall

China Economic Net, Beijing, June 10th. The National Bureau of Statistics today released data from the National CPI (residential consumer price index) and PPI (industrial producer factory price index) data in May 2022. In this regard, Dong Lijuan, senior statistician of the National Bureau of Statistics, interpreted.

1. CPI decreased month -on -month. The year -on -year increase was the same as last month

May in May, the domestic epidemic prevention and control situation continued to improve, the consumer market supply was generally sufficient, the CPI turned the month -on -month, and the year -on -year increase remained maintained Stablize.

From a month -on -month, CPI rose from 0.4%last month to 0.2%. Among them, food prices rose by 0.9%last month to decrease by 1.3%, affecting the decrease of CPI by about 0.24 percentage points. In food, with the large number of fresh vegetables, the logistics gradually unblocked, and the price of fresh vegetables decreased by 15.0%; the collection and storage of pork and storage of central reserves continued to be carried out. Influence, the prices of domestic flour, grain products and edible vegetable oil rose 0.8%, 0.8%and 0.7%, respectively. Non -food prices rose 0.1%, the increase of 0.1 percentage points from last month, affecting the CPI rose by about 0.06 percentage points. Among non -food, international oil price fluctuations affect domestic gasoline and diesel prices to increase by 0.6%; offline service consumption during the epidemic period decreases, online service consumption demand has increased, and movies and performance tickets and hotel accommodation prices have decreased by 2.6%and 0.7%, respectively. The price of entertainment services rose 2.4%.

From the year -on -year, CPI rose 2.1%, the same as last month. Among them, food prices rose 2.3%, an increase of 0.4 percentage points from the previous month, affecting CPI by about 0.42 percentage points. In food, the prices of fresh fruits, potatoes and grain rose by 19.0%, 16.1%, and 3.2%, respectively, and the increase in the increase of 11.6%and 11.4%respectively from the prices of fresh vegetables and eggs, respectively. 1.9 percentage points; the price of pork decreased by 21.1%, a narrowing of 12.2 percentage points from last month. Non -food prices rose 2.1%, the increase of 0.1 percentage points from last month, affecting the CPI rose by about 1.68 percentage points. Among non -food, the prices of gasoline, diesel, and liquefied petroleum gas rose by 27.6%, 30.1%, and 26.9%, respectively; hotel accommodation and air ticket prices decreased by 7.4%and 2.4%, respectively.

According to estimates, in the year -on -year increase of 2.1%in May, the impact of the price change last year was about 0.8 percentage points, and the new price increase was about 1.3 percentage points. The core CPI of food and energy prices rose 0.9%year -on -year, the same as last month.

2. PPIs and year -on -year increases continued to fall

In May, various departments and departments efficiently coordinate the prevention and control of the epidemic and economic and social development.The supply chain of the key industry chain is smooth and stable, and the PPI has continued to fall from the previous month and year -on -year increases.

From the perspective of the month, PPI rose 0.1%, the increase of 0.5 percentage points from the previous month. Among them, the price of production materials rose by 0.1%, and the increase of 0.7 percentage points; the price of living materials rose 0.3%, an increase of 0.1 percentage points. International crude oil prices fluctuate upward, driving rising prices in relevant domestic industries. Among them, the price of oil and natural gas mining rose 1.3%, the prices of oil and coal and other fuel processing industries rose 0.9%, the prices of chemical fiber manufacturing rose 0.8%, and the prices of chemical raw materials and chemical products manufacturing rose 0.6%. With the safe and orderly release of advanced coal production capacity in various places, multiple measures to ensure the supply of coal and strengthen market expectations management. One percentage point. Affected by factors such as the slowdown in investment, the price of non -ferrous metal smelting and pressure -delayed industrial prices decreased by 1.3%, the price of black metal smelting and pressure -delay industrial prices decreased by 0.5%, and the price of non -metal mineral products fell by 0.5%. In addition, the price of agricultural and sideline food processing industry rose 0.9%, and the price of computer communication and other electronic equipment manufacturing rose by 0.8%.

From the year -on -year, PPI rose 6.4%, an increase of 1.6 percentage points from the previous month. Among them, the price of production materials rose by 8.1%, the increase of 2.2 percentage points; the price of living materials rose 1.2%, an increase of 0.2 percentage points. Of the 40 industrial industries surveyed, 37 were rising prices, which was the same as last month. In the main industries, the price increases fell: the coal mining and washing industry rose by 37.2%, falling 16.2 percentage points; non -ferrous metal smelting and pressure -extended margin industry rose by 10.4%, falling 6.4 percentage points; oil coal and other fuel processing industries rose by 34.0 %, Falling 4.7 percentage points; chemical raw materials and chemical products manufacturing rose 13.6%, falling 1.3 percentage points. The increase in prices has expanded: the gas production and supply industry rose by 22.0%, an increase of 1.3 percentage points; the agricultural and sideline food processing industry rose 3.7%to expand 1.1 percentage points; the power thermal production and supply industry rose by 9.7%to expand 0.4 percentage points. Black metal smelting and pressure -delay industrial prices decreased by 1.3%, which was the first time since September 2020.

According to estimates, in May 6.4%of the year -on -year increase in May, the impact of the price change last year was about 4.1 percentage points, and the new price increase was about 2.3 percentage points.

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