CPI rose 4.5% in December 2019, rose 2.9% for the whole year
CPI rises 2.9% in 2019
Pork prices rose 97.0% year-on-year in December, affecting CPI by about 2.34 percentage points. Ex-factory prices of industrial producers fell 0.5% year-on-year in December 2019.
China ’s CPI rises 2.9% in 2019, an 8-year high. Interpretation: CPI rose in December 2019, stable PPI decline narrowed, CPI rose 4.5% in December 2019 year-on-year How to go in the year? The continued downward trend in pork prices has been determined by the CPI data of the Southwest Macro Evaluation: inflation need not worry about pork prices will start to fall after the holiday.
CICC Macro: Decline in CPI generally in line with expectations Food price inflation has eased somewhat . China and Thailand Securities : Pig price rises, oil prices rise, currency easing remains unchanged.
Consumer prices for December 2019 rose 4.5% year-on-year
In December 2019, the national consumer price rose 4.5% year-on-year. Among them, cities rose 4.2%, rural areas 5.3%; food prices rose 17.4%, non-food prices rose 1.3%; consumer goods prices rose 6.4%, and service prices rose 1.2%.
In December, consumer prices nationwide remained flat. Among them, cities remained flat, rural areas fell 0.1%; food prices fell 0.4%, non-food prices rose 0.1%; consumer goods and services prices remained flat.
For the whole of 2019, consumer prices nationwide increased by 2.9% over the previous year.
I. Year-on-year changes in the prices of various goods and services In December, the prices of food, tobacco and alcohol increased by 12.9% year-on-year, which affected the CPI (residential consumer price index) by approximately 3.82 percentage points. In food, the price of livestock meat increased by 66.4%, which affected the CPI by approximately 2.94 percentage points, of which the price of pork increased by 97.0%, which affected the CPI by approximately 2.34 percentage points; the price of fresh vegetables increased by 10.8%, which affected the CPI by approximately 0.26 percentage points; The price increase of 6.2% affects the CPI by about 0.04 percentage points; the price of aquatic products rises by 1.3%, which affects the CPI by about 0.02 percentage points; the increase of grain prices by 0.6%, which affects the CPI by about 0.01 percentage points; the price of fresh fruits decreases by 8.0%, which affects the CPI A decrease of about 0.15 percentage points.
The prices of the other seven categories increased by six year-on-year and decreased. Among them, the prices of other supplies and services, medical care, education, culture and entertainment increased by 4.4%, 2.1%, and 1.8%, and the prices of clothing, housing, daily necessities and services increased by 0.8%, 0.5%, and 0.4%, respectively; transportation and communications prices Down 0.7%.
2. Changes in the prices of various goods and services from December in December The prices of food, tobacco and alcohol dropped by 0.2% month-on-month, which affected the CPI by about 0.05 percentage points. In food, the price of eggs dropped by 4.7%, which affected the CPI by about 0.03 percentage points; the price of livestock meat fell by 3.8%, and the CPI dropped by about 0.28 percentage points, among which the price of pork dropped by 5.6%, which affected the CPI by about 0.27 percentage points; fresh vegetables The price increase of 10.6% affects the CPI increase by about 0.25 percentage points; the price of fresh fruit increases by 0.6%, which affects the CPI increase by about 0.01 percentage points.
The prices of the other seven categories increased by four, increased by one, and decreased by two. Among them, the prices of transportation, communication and medical care increased by 0.2%, the prices of housing, daily necessities and services all increased by 0.1%; the prices of education, culture and entertainment remained unchanged; the prices of clothing, other supplies and services all decreased by 0.1%. (Statistical Bureau)
Main data of consumer prices in December 2019
Note 1. Index Explanation The Consumer Price Index (CPI) is a relative number that measures the level of changes in the prices of consumer goods and services over time and comprehensively reflects the changes in the prices of consumer goods and services purchased by residents.
2. Scope of statistics The statistical survey of consumer prices covers 8 categories of food, tobacco, alcohol, clothing, housing, daily necessities and services, transportation and communications, education, culture and entertainment, medical care, and other supplies and services. Prices for goods and services in 262 basic categories.
3. Survey method The sampling survey method is used to determine the survey outlets, and in accordance with the principle of "fixing people, fixed points, and timing", directly send people to the survey outlets to collect the original prices. The data comes from more than 88,000 price survey points in 500 cities and counties in 31 provinces (autonomous regions and municipalities), including shopping malls (shops), supermarkets, farmers' markets, service outlets and Internet e-commerce.
4. Data explanation Due to “rounding”, sometimes the total data and the classified data have the same high or low value.