Interpretation: In April 2020, CPI Continued To Fall, And PPI Declined.

The National Bureau of statistics released today's April 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.

1. CPI continues to decline, further down compared with the same period last year.

In April, the new situation of prevention and control of new crown pneumonia in China was further consolidated, and the order of production and life was accelerated. From the ring to see, CPI fell 0.9%, the decline narrowed by 0.3 percentage points from last month. Among them, food prices fell 3%, the decline narrowed by 0.8 percentage points, affecting the CPI decline of about 0.70 percentage points, is the main factor driving CPI continues to decline. In food, the weather is getting warmer, the supply of fresh vegetables has increased, the price has decreased by 8%, the decline has narrowed by 4.2 percentage points, the pig production capacity has been quickening and resumed, the supply of pork has continued to increase, the price has continued to drop by 7.6%, the decline has increased by 0.7 percentage points, the supply of fresh fruits and eggs has been adequate, and prices have dropped by 2.2%. Non food prices fell by 0.2%, the decline narrowed by 0.2 percentage points, affecting the CPI dropped by about 0.17 percentage points. In non foodstuffs, the price of gasoline, diesel and LPG decreased by 7.5%, 8.2% and 3.7% respectively, due to the fluctuation of international crude oil prices. With the resumption of production and production, the demand for travel increased and the price of air tickets increased by 5.6%.

From the same period of view, CPI rose 3.3%, or 1 percentage points lower than last month. Among them, food prices rose 14.8%, or 3.5 percentage points down, affecting CPI rose about 2.98 percentage points. Pork prices rose 96.9%, or 19.5 percentage points, while beef, mutton, chicken and duck prices rose by 8.2% - 20.5%, and the prices rose. The price of eggs rose from 2.1% last month to 3.4%, while the prices of fresh fruits and fresh vegetables decreased by 10.5% and 3.7% respectively. Non food prices rose 0.4%, or 0.3 percentage points lower than last month, affecting CPI's rise of about 0.31 percentage points. The prices of health care, education, culture and entertainment rose by 2.2% and 2% respectively, while transportation, communications, clothing and housing prices fell by 4.9%, 0.4% and 0.3% respectively. The core CPI excluding food and energy prices rose 1.1% over the same period, or 0.1 percentage points from last month. It is estimated that in the 3.3% year-on-year increase in April, the impact of the price change last year was about 3.2 percentage points, and the impact of the new price increase was about 0.1 percentage points. From 1 to April, CPI increased by 4.5% over the same period last year.

Two, PPI ring ratio, year-on-year decline in the expansion of

In April, domestic industrial prices continued to decline due to factors such as the epidemic and the continuous decline in international commodity prices. From the ring to see, PPI fell 1.3%, a 0.3 percentage point increase from last month. Among them, the prices of means of production dropped by 1.8%, the rate of decline increased by 0.6 percentage points, the price of living goods dropped by 0.1%, and the decline narrowed by 0.1 percentage points. According to the survey of 40 industrial sectors, 30 prices have dropped, 8 have risen, and 2 have been flat. Affected by the sharp fall in international crude oil prices, the price of oil related industries continued to expand. Among them, oil and natural gas extraction industry prices fell by 35.7%, an increase of 18.7 percentage points; oil, coal and other fuel processing industry prices fell by 9%, an increase of 1.2 percentage points; chemical raw materials and chemical products manufacturing prices fell 3%, an increase of 1.6 percentage points. Together, the above three industries affected PPI by about 0.76 percentage points, or nearly 60% of PPI's total decline. The price of steel and non-ferrous metals decreased narrower. Among them, non-ferrous metal smelting and calendering processing industry prices fell 2.2%, narrowed 1.3 percentage points, ferrous metal smelting and calendering processing industry prices fell 1.6%, narrowed by 0.3 percentage points. The price of coal mining and washing industry has declined by 2.3%. The price of pharmaceutical manufacturing rose from flat to 0.3%.

From the year-on-year perspective, PPI fell by 3.1%, a 1.6 percentage point increase from last month. Among them, the prices of means of production fell by 4.5%, the increase by 2.1 percentage points, and the price of living goods rose by 0.9%, or 0.3 percentage points. Prices in major industries have increased. Among them, the price of oil and natural gas extraction industry decreased by 51.4%, an increase of 29.7 percentage points; the price of oil, coal and other fuel processing industry decreased by 19.8%, an increase of 9.2 percentage points; the prices of chemical raw materials and chemical products manufacturing decreased by 8.3%, 3 percentage points; the ferrous metal smelting and calendering processing industry decreased by 7.3%, expanded by 3.4 percentage points; non-ferrous metal smelting and calendering. The price of the processing industry decreased by 6%, an increase of 2.5 percentage points, and the price of coal mining and washing industry decreased by 5.4%, an increase of 1.8 percentage points. In addition, the price of agricultural and sideline food processing industry rose 6.2%, or 0.5 percentage points. It is estimated that in April, the year-on-year decline of 3.1%, the impact of last year's price change is about -0.3 percentage points, the impact of the new price increase is about -2.8 percentage points. From 1 to April, the PPI decreased by 1.2% over the same period last year.