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due to factors such as seasonal increases in food prices, the year-on-year increase in cpi continued to expand in august. however, due to factors such as insufficient market demand and the downward trend in prices of some international bulk commodities, ppi fell both month-on-month and year-on-year.

data released by the national bureau of statistics on the 9th showed that the cpi (consumer price index) in august rose by 0.4% month-on-month and 0.6% year-on-year. the ppi (industrial producer price index) fell by 0.7% month-on-month and 1.8% year-on-year.

many experts analyzed that the weak momentum of price increases is still continuing, which provides space for timely strengthening of countercyclical policies. the policy side will further strengthen consumption promotion, including issuing additional ultra-long-term special government bonds to support residents' consumption, and issuing consumption coupons and consumption subsidies on a large scale in various places. it is still possible to introduce policy measures such as reserve requirement ratio cuts and structural tools within the year to stabilize market liquidity, optimize bank liabilities, cooperate with active fiscal policies, and balance internal and external factors.

rising food prices push up cpi

in august, affected by factors such as high temperature and heavy rain, the national cpi increased seasonally month-on-month, and the year-on-year growth rate continued to expand. from a year-on-year perspective, the cpi rose by 0.6%, an increase of 0.1 percentage point from the previous month. among them, food prices rose by 2.8% from the previous month. among food, the price of fresh vegetables rose by 21.8%, an increase of 18.5 percentage points from the previous month; the price of pork rose by 16.1%, a decrease of 4.3 percentage points from the previous month.

wen bin, chief economist of china minsheng bank, said that the month-on-month increase in my country's cpi and food prices in august was higher than the average level of the same period in the past 10 years. the super-seasonal increase in food prices was mainly affected by weather factors such as high temperatures in summer and heavy rainfall in some areas, as well as the reduction of pig production capacity and bullish expectations.