Interpretation: In December 2019, CPI Rose Steadily And PPI Narrowed.

The National Bureau of statistics released today's December national CPI (consumer price index) and PPI (producer price index of industrial producer) data in 2019. Shen Sheng, a senior statistician of the city Bureau of the National Bureau of statistics, interpreted this.

　　 1. The CPI ratio rose from flat to flat, which was the same as last month.

The CPI rose from 0.4% last month to flat. Among them, food prices rose from 1.8% last month to 0.4%, affecting CPI by about 0.08 percentage points. In the food industry, with the positive changes in pig production, the central and local reserve pork has been gradually put into operation, and the import volume has increased. The supply of pork has eased further. The price has increased from 3.8% last month to 5.6%, which has affected the CPI decline by about 0.27 percentage points. With the decline in pork prices, beef and mutton prices rose from 2.8% and 1.3% to 0.1% and 0.2% respectively, and chicken and duck prices rose from 4.3% and 3.6% to 4.9% and 1.9% respectively. The supply of eggs is adequate, the price has dropped by 5.5%, and the decline has increased by 4.8 percentage points. Affected by cold air and extensive snow, the production and storage costs of fresh vegetables and fresh fruits increased, and prices rose by 10.6% and 0.6% respectively. In non food, the price of liquefied petroleum gas (LPG) rose by 4%, and the price of gasoline and diesel rose by 1.4%.

From the year-on-year perspective, CPI rose by 4.5%, the same as last month. Among them, food prices rose 17.4%, or 1.7 percentage points down, affecting CPI rose about 3.43 percentage points. The price of fresh fruit dropped by 8% in food and 1.2 percentage points lower. Pork prices rose 97%, or 13.2 percentage points down. Prices of beef, mutton, chicken, duck and eggs rose between 7.3% and 20.4%, varying in varying degrees. Fresh vegetable prices rose 10.8%, or increased. The prices of health care, education, culture, entertainment and clothing rose by 2.1%, 1.8% and 0.8% respectively, while traffic and communications prices dropped by 0.7%. The core CPI, excluding food and energy prices, rose 1.4% over the same period last month, the same as last month.

　 Two, the PPI ratio decreased from flat to flat, narrowing compared with the same period last year.

From the aspect of the ring ratio, PPI dropped from 0.1% last month to flat. Among them, the price of producer goods fell from 0.2% to flat last month, and the price of living goods changed from 0.3% to 0.2%. In the main industries, the oil and natural gas extraction industry increased by 3.8%, an increase of 3.7 percentage points from last month, and the gas production and supply industry rose 2.2%, expanding by 1.1 percentage points. The oil, coal and other fuel processing industries rose by 0.7%, and ferrous metal smelting and calendering processing industry increased by 0.4%. Non metallic mineral products industry rose 0.7%, or 0.1 percentage points. The processing industry of agricultural and sideline products has declined by 0.5%. Coal mining and washing industry decreased by 0.8%, and the decline increased by 0.3 percentage points.

From the year-on-year perspective, PPI fell by 0.5%, a 0.9 percentage point decline from last month. Among them, the price of producer goods fell by 1.2%, the decline narrowed by 1.3 percentage points, and the price of living goods rose by 1.3%, or 0.3 percentage points. In the main industries, the black metal ore mining industry increased by 8.8%, an increase of 0.5 percentage points from last month, and the non-ferrous metal smelting and calendering processing industry increased by 1.1%, expanding by 0.6 percentage points. The decline narrowed in the chemical raw materials and chemical products manufacturing industry, a decrease of 5.4%, narrowing 1 percentage points, oil, coal and other fuel processing industry, down 1.8%, narrowed by 8.1 percentage points; ferrous metal smelting and calendering processing industry, 0.7%, narrowed 4.6 percentage points. Oil and natural gas extraction industry rose by 5.8%. Coal mining and washing industry decreased by 3.6%, and the decline increased by 0.8 percentage points.