According to the National Bureau of Statistics, in September, the national consumer price rose by 0.4% year-on-year. Among them, the urban area increased by 0.4%, and the rural area increased by 0.6%; Food prices rose by 3.3% and non-food prices decreased by 0.2%; Consumer goods prices rose by 0.5 per cent and services by 0.2 per cent. From January to September, the national consumer price rose by 0.3 percent over the same period of last year.
In September, the ex-factory prices of industrial producers fell by 2.8% year-on-year and 0.6% month-on-month; The purchasing prices of industrial producers fell by 2.2 percent year-on-year and 0.8 percent month-on-month. From January to September, the ex-factory prices of industrial producers decreased by 2.0 percent over the same period of the previous year, and the purchase prices of industrial producers decreased by 2.1 percent.
Consumer prices rose 0.4% year-on-year in September 2024
In September 2024, the national consumer price rose by 0.4% year-on-year. Among them, the urban area increased by 0.4%, and the rural area increased by 0.6%; Food prices rose by 3.3% and non-food prices decreased by 0.2%; Consumer goods prices rose by 0.5 per cent and services by 0.2 per cent. From January to September, the national consumer price rose by 0.3 percent over the same period of last year.
In September, consumer prices across the country were flat month-on-month. Among them, the urban area decreased by 0.1%, and the rural area increased by 0.1%; Food prices rose by 0.8 per cent and non-food prices by 0.2 per cent; Consumer goods prices rose by 0.2 per cent and services fell by 0.3 per cent.
1. Year-on-year changes in the prices of various commodities and services
In September, the prices of food, tobacco and alcohol rose by 2.3% year-on-year, affecting the CPI (consumer price index) to rise by about 0.66 percentage points. Among the foodstuffs, the price of fresh vegetables rose by 22.9%, affecting the CPI by about 0.48 percentage points, the price of fresh fruits rose by 6.7%, affecting the CPI by about 0.13 percentage points, the price of livestock and meat rose by 3.8%, affecting the CPI by about 0.12 percentage points, of which the price of pork rose by 16.2%, affecting the CPI by about 0.21 percentage points, the price of aquatic products rose by 2.0%, affecting the CPI by about 0.04 percentage points, and the price of eggs decreased by 4.1%. The impact of the CPI was about 0.03 percentage points, and the decline in food prices was 0.7%, which affected the CPI to drop by about 0.01 percentage points.
The prices of the other seven categories rose five times year-on-year and fell two times. Among them, the prices of other articles and services, clothing and medical care increased by 3.5%, 1.3% and 1.2% respectively, and the prices of education, culture and entertainment, daily necessities and services increased by 0.6% and 0.1% respectively. Prices for transportation, communications, and housing fell by 4.1 percent and 0.1 percent, respectively.
2. Month-on-month changes in the prices of various goods and services
In September, the prices of food, tobacco and alcohol rose by 0.5% month-on-month, affecting the CPI to rise by about 0.15 percentage points. Among the foodstuffs, the price of fresh vegetables rose by 4.3%, affecting the CPI by about 0.11 percentage points, the price of fresh fruits rose by 2.1%, affecting the CPI by about 0.04 percentage points, the price of eggs rose by 2.1%, affecting the CPI by about 0.01 percentage points, the price of livestock and meat rose by 0.4%, affecting the CPI by about 0.01 percentage points, of which the price of pork rose by 0.4%, affecting the CPI by about 0.01 percentage points, and the price of aquatic products decreased by 0.5%. The impact of CPI fell by about 0.01 percentage points.
The prices of the other seven categories rose month-on-month, flattened three and fell three times. Among them, the price of clothing rose by 0.8%; Prices of daily necessities and services, health care and other articles and services were flat; The prices of transportation and communications, education, culture and entertainment, and housing fell by 1.3 percent, 0.3 percent, and 0.1 percent, respectively.
Key data on consumer prices for September 2024
In September 2024, the year-on-year decline in industrial producer prices widened, and the month-on-month decline narrowed
In September 2024, the national industrial producer prices fell by 2.8% year-on-year and 0.6% month-on-month; The purchasing prices of industrial producers fell by 2.2 percent year-on-year and 0.8 percent month-on-month. From January to September, the ex-factory prices of industrial producers decreased by 2.0 percent over the same period of the previous year, and the purchase prices of industrial producers decreased by 2.1 percent.
1. Year-on-year changes in industrial producer prices in September
Among the ex-factory prices of industrial producers, the prices of means of production fell by 3.3 percent, affecting the overall level of ex-factory prices of industrial producers by about 2.41 percentage points. Among them, the prices of extractive industries fell by 2.5%, the prices of raw materials industries decreased by 3.2%, and the prices of processing industries decreased by 3.3%. The price of means of subsistence fell by 1.3 percent, affecting the overall level of ex-factory prices of industrial producers by about 0.35 percentage points. Among them, the price of food fell by 1.6 percent, the price of clothing and general daily necessities both decreased by 0.3 percent, and the price of durable consumer goods decreased by 2.1 percent.
Among the purchase prices of industrial producers, the prices of ferrous metal materials decreased by 6.8%, the prices of building materials and non-metallic materials decreased by 4.2%, the prices of fuel and power decreased by 4.1%, the prices of agricultural and sideline products decreased by 3.8%, the prices of chemical raw materials decreased by 3.3%, and the prices of textile raw materials decreased by 1.7%; The price of non-ferrous metal materials and wires rose by 7.4%.
2. Month-on-month changes in industrial producer prices in September
Among the ex-factory prices of industrial producers, the prices of means of production decreased by 0.8 percent, affecting the overall level of ex-factory prices of industrial producers by about 0.61 percentage points. Among them, the prices of the extractive industry decreased by 1.6%, the price of the raw material industry decreased by 1.2%, and the price of the processing industry decreased by 0.6%. The prices of means of subsistence fell by 0.1 percent, affecting the overall level of ex-factory prices of industrial producers by about 0.03 percentage points. Among them, the prices of food, general daily necessities and durable consumer goods all fell by 0.2%, and the price of clothing rose by 0.2%.
Among the purchase prices of industrial producers, the prices of ferrous metal materials decreased by 2.4 percent, the prices of fuel and power decreased by 1.4 percent, the prices of chemical raw materials decreased by 1.1 percent, the prices of building materials and non-metallic materials decreased by 0.8 percent, the prices of non-ferrous metal materials and wires decreased by 0.6 percent, the prices of textile raw materials decreased by 0.5 percent, and the prices of agricultural and sideline products decreased by 0.4 percent.
Source: Finance Associated Press