Sino-Singapore Longitudinal and Weft Client June 14, May, the price rise across the country? The National Bureau of Statistics recently released the Consumer Price Index (CPI) of 31 provinces in May. According to the analysis of Sino-Singapore longitude and latitude clients, CPI in 14 provinces increased more than the national average in May.
CPI in 14 provinces increased faster than that in the whole country
In May, the national CPI rose by 2.7% year-on-year, and the increase was in the two times for three consecutive months. From the ring comparison, the CPI rose by 0.1% from last month to be flat.
In terms of provinces, the CPI of 14 provinces in Hebei, Zhejiang, Chongqing, Hainan, Guangxi, Guangdong, Hubei, Jiangsu, Hunan, Henan, Jilin, Shanxi, Shandong and Anhui increased more than the national average in May. In May, CPI in Gansu and Shaanxi increased at the same rate as in the whole country.
Hebeis CPI rose 3.3% year-on-year in May, which has led the country for two consecutive months. At the same time, Hebeis CPI rose again to the three times after eight months. Zhejiangs CPI in May was 3.2% year-on-year, ranking second, followed by Chongqings 3.1%.
Dong Yaxiu, director of the city Department of the National Bureau of Statistics, said that in food, fresh fruit prices were at an all-time high, rising 26.7% year-on-year, pork prices were up 18.2% and fresh vegetables prices were up 13.3%.
In May, the rising price of fresh fruits became an important factor in driving up CPI. The head of the Department of Market Operation and Consumption Promotion of the Ministry of Commerce recently pointed out that apple and pear varieties fluctuated greatly under the influence of short-term supply and demand changes, weather and other factors. Recently, with the rise of temperature, the market volume of seasonal fruits increased gradually, and the prices of various fruits showed a downward trend. Chinas fruit production category is rich, the production and demand are generally balanced, the annual production and supply is guaranteed, fully able to meet the needs of domestic consumers.
Beijing has the smallest price increase
In May, the lowest increase in CPI in 31 provinces was in Beijing, which was only 1.8%, with food prices rising by 6.9% and non-food prices by 0.9%. It is noteworthy that the CPI in Beijing rose the smallest in the country for two consecutive months.
Main Data Source of Consumer Price of Beijing Residents: Beijing Statistical Bureau
Main Data Source of National Consumer Price: National Bureau of Statistics
Comparing the consumer price data of Beijing and the whole country, China-Singapore longitude-latitude clients found that in May, Beijings non-food consumption increased by 0.9% year-on-year, far less than the national residentsnon-food growth by 1.6%. As for service consumption, the national residents service consumption increased by more than twice year-on-year.
Yang Chang, a senior economist at the China-Thailand Securities Research Institute, said in an interview with Sino-Singapore Jingwei clients that non-food is more important in Beijings CPI than in the national level. Beijings consumption structure emphasizes service consumption, with Engels coefficient very low and food expenditure relatively low. The main varieties of food, especially fruits and eggs, which rose in May are food. Beijings food weights are lower than the national average, which depresses the year-on-year increase in CPI.
Pork on supermarket shelves. Sino-New Zealand Jingwei Wang Yongle Photography
Expert: Prices should be stable in the future
What is the future price trend? In Yang Changs view, the overall price rise has not exceeded expectations. In May, the ring-to-ring increase is mild, and the probability of CPI breaking 3% is not high. With the follow-up regulation measures such as guaranteed supply, price control and seasonal fruit market, the trend of fruit price increase will slow down in the future. At the same time, although the local infrastructure projects are expected to push forward in the third quarter under the policy impetus, the policy intent is still to focus on stabilizing the economy rather than stimulating the economy. The future economic demand is expected to be relatively stable and does not have the macro conditions to substantially raise prices. On the whole, prices should be able to maintain stable operation.
The deputy director of CITIC Securities Research Institute and the chief fixed income researcher clearly indicated that in May, the CPI price increase of food items was mainly affected by the increase of fresh fruits and egg prices. The fresh fruits and egg prices were all descending into the downstream channel. If the price of pigs did not rise rapidly in June, the pace of CPI rise would be slowed down.
Haitong Securities analyst Jiang Chao believes that since June, the price of fresh fruit has dropped, and pork prices have rebounded slightly, vegetable prices have continued to decline, and food prices have continued to decline compared with the May average. CPI is expected to fall slightly or * slightly down in June. In recent years, international oil prices have fallen sharply. On June 11, domestic gasoline and diesel prices have fallen by 465 yuan and 445 yuan per ton respectively. It is expected that non-food CPI will also decline slightly from the same period last year. Taken together, CPI is expected to fall to 2.6% in June from a year earlier.
Source of this article: responsible editor of Sino-Singapore longitude and latitude: Li Wan_B11284