China ’s residents 'consumer price index (CPI) in August to a negative to positive, slightly increased by 0.1%, and the decline in industrial producers' factory price index (PPI) was narrowed by 1.4 percentage points from July.Scholars of interviewees analyzed that the Chinese economy is stabilizing stage, but it is still not too optimistic about the subsequent rebound of the Chinese economy.
The data released by the National Bureau of Statistics of China on Saturday (September 9) showed that the national CPI in August rose 0.1%year -on -year, reversing the momentum of 0.3%year -on -year in July.The core CPI of food and energy prices rose 0.8%year -on -year.
In August, the CPI recovery was mainly driven by service prices. Driven by the peak season of summer vacation, service prices rose 1.3%year -on -year, an increase of 0.1 percentage points from July.The prices of aircraft tickets, tourism and hotel accommodation rose by 17.6%, 14.8%, and 13.4%, respectively, and the increase has expanded.
Chinese food prices also decreased by 1%in July to 0.5%, pushing the CPI to rise by about 0.1 percentage points.Pork prices are most obvious; due to factors such as the influence of extreme weather in some areas, the general sales of farming households, and the central reserves of pork collection and storage support for market confidence, the price of pork from the last month to 11.4%.In summer, egg chicken egg yields have decreased, and the increase in consumption demand near the beginning of school and Mid -Autumn Festival has also led to a decrease of egg prices from 0.9%in July to 8.3%.
China's PPI in August also declined from the previous month to rose, from 0.2%to 0.2%from July; from a year -on -year perspective, it decreased by 3%, a narrowing of 1.4 percentage points from July.
Affected by international crude oil prices, the prices of China's domestic oil and natural gas mining industry, oil and coal and other fuel processing industries increased by 5.6%and 5.4%, respectively.The demand for metal -related industries has also improved, driving the price of non -ferrous metals and black metal smelting and pressure -delay industrial prices rose by 0.4%and 0.1%, respectively.
But China's coal demand has weakened, and the prices of coal mining and washing industries decreased by 0.8%month -on -month; the price of computer communication and other electronic equipment manufacturing fell by 0.4%month -on -month.
China ’s CPI and PPI in July fell, which was the first time that two data since November 2020 have contracted simultaneously, which once exacerbated the market’ s concerns about the risk of shrinking the world ’s second largest economy in the world.
Zhou Hao, the chief economist of Guotai Junan, told Reuters that China's inflation situation has improved. PPI currency tightening seems to be narrowing, showing that the Chinese economic recovery process is slow and mild.In general, the inflation rate still shows weak demand, and more policy support is required.
Wang Jun, chief economist of Huatai Assets, was analyzed during an interview with Lianhe Zaobao that the CPI and PPI data in August were a relatively important inflection point.Last week, the Index (PMI) Index (PMI) index (PMI) was recorded in August, and returned to the expansion range.
Wang Jun said: "Combined with CPI, PPI, and PMI data, there is reason to believe that the Chinese economy is stabilizing."
But he reminded that it is still not too optimistic about the subsequent rebound of the Chinese economy. The economic data rebound in August is very mild, and the rebound is slightly weaker than some market expectations.This may be the short -term promotion of the peak tourist season in August, which does not mean that the Chinese economy is completely recovered, and the next trend must be further observed.
