National Bureau Of Statistics: The Year-On-Year Increase Of CPI And CPI In December 2021 Has Decreased

The National Bureau of statistics released today the national CPI (consumer price index) and PPI (Industrial producer price index) data for December 2021. In this regard, Dong Lijuan, Senior Statistician of the city Department of the National Bureau of statistics, made an interpretation.

1、 CPI from up to down, year-on-year growth fell

In December, the domestic epidemic situation spread in many places. All regions and departments coordinated to promote epidemic prevention and control and ensure supply and price stability, and the consumer market was generally stable.

On a month on month basis, CPI rose by 0.4% last month to decline by 0.3%. Among them, food prices rose by 2.4% month on month to a decrease of 0.6%, which affected the CPI decline by about 0.10%. Among the food, fresh vegetables increased in the market, and the price fell down from a high level, with a month on month increase of 6.8% to a decrease of 8.3%; Affected by seasonal factors, the price of fresh fruit increased by 3.4%; With the end of winter curing and the acceleration of pig production, the rise of pork price dropped by 11.8 percentage points compared with the previous month. Non food prices fell by 0.2% from flat in the previous month, which affected the CPI decline by about 0.17%. Among non food products, the price of industrial consumer goods increased from 0.3% in the previous month to a decrease of 0.5%. The price of gasoline and diesel decreased by 5.4% and 5.8% respectively due to the downward trend of international crude oil price. The price of domestic service increased by 1.3% as the Spring Festival approached; The epidemic affected residents' travel, and hotel accommodation prices dropped by 0.8%.

On a year-on-year basis, CPI rose by 1.5%, down 0.8 percentage points from the previous month. Among them, food prices increased by 1.6% from the previous month to a decrease of 1.2%, which affected the CPI decline by about 0.22%. In food, the price of pork decreased by 36.7%, an increase of 4.0 percentage points over the previous month; The price of fresh vegetables rose by 10.6%, a sharp decrease of 20.0 percentage points over the previous month; The prices of freshwater fish, eggs and edible vegetable oil rose by 16.7%, 14.2% and 9.0% respectively, and their prices all fell back. Non food prices rose by 2.1%, down 0.4% from the previous month, affecting the CPI rise of about 1.69%. Among non food products, the price of industrial consumer goods rose by 2.9% and fell by 1.0%. The price of gasoline and diesel rose by 23.0% and 25.4% respectively; Service prices rose by 1.5%, the same as last month. Excluding food and energy prices, the core CPI rose 1.2% year-on-year, the same increase as last month.

2、 PPI from flat to down, year-on-year growth fell

In December, the effect of the policy of ensuring supply and stabilizing prices continued to show, adding to the impact of lower prices of some international commodities such as crude oil, the prices of industrial products fell.

On a month on month basis, PPI fell from flat to 1.2%. Among them, the price of means of production decreased by 1.6%, an increase of 1.5 percentage points over the previous month; The price of means of living changed from 0.4% to flat. The implementation of the policy of ensuring supply and price stability has been strengthened. The price of coal continues to fall. The price of coal mining and washing industry has decreased by 8.3% and the decline rate has been expanded by 3.4%; The price of coal processing decreased by 15.4% and the decrease rate was increased by 7.0%. In winter, the demand for steel, cement and other building materials is weak, and the prices have dropped. The prices of ferrous metal smelting and calendering industry have decreased by 4.4%, and the prices of non-metallic mineral products industry have decreased by 1.4%. International crude oil and non-ferrous metal prices have fallen, driving down the prices of domestic related industries. The price of oil exploitation decreased by 8.3%, the manufacturing price of refined petroleum products decreased by 4.0%, and the price of chemical raw materials and chemical products decreased by 2.1%; The price of nonferrous metal smelting and calendering industry decreased by 1.4%. In addition, the price of imported liquefied natural gas rose, which affected the gas production and supply industry price rise by 5.3%; The range of trading price fluctuation in the coal-fired power generation market was expanded, and the price of power and heat production and supply industry increased by 3.0%.

On a year-on-year basis, PPI rose by 10.3%, down 2.6 percentage points from the previous month. Among them, the price of means of production rose by 13.4%, and the increase fell by 3.6 percentage points; The price of means of living rose by 1.0%, the same as last month. Among the 40 major industrial sectors surveyed, 37 had price increases, the same as last month. Among the major industries, the price rise fell: coal mining and washing industry increased by 66.8%, falling by 22.0%; The oil and gas exploitation industry rose by 45.6% and fell by 22.9%; Oil, coal and other fuel processing industries rose by 36.4%, down 16.7 percentage points; Ferrous metal smelting and calendering industry rose 21.4%, down 9.6%; Nonferrous metal smelting and calendering industry rose by 20.0% and fell by 6.5%. Gas production and supply increased by 12.5% and 1.6% respectively; The electricity and heat production and supply industry rose by 4.8%, expanding by 2.4 percentage points; The food manufacturing industry rose 4.2%, an increase of 0.7 percentage points.