31 provinces in August CPI:11 provinces increased more than the whole country

Recently, the National Bureau of Statistics announced the consumer price index (CPI) of 31 provinces (districts and municipalities) in August. Among them, 11 provinces, such as Guangxi and Hainan, increased more than the whole country. The CPI of the whole country rose by 2.8% in August compared with the same period last year, and the increase was in the "two times" for six consecutive months. In terms of ring-wise comparison, the consumer price of the whole country rose by 0.7% annually.

China-Singapore Longitudinal and Weft Client Carding found that the CPI of 11 provinces in August rose more than the national average. In August, CPI rose at the same rate as the whole country. CPI in 17 provinces increased less than that in the whole country. Among them, Guangxi rose 5.2%, ranking first, the highest in two consecutive months.

The National Bureau of Statistics pointed out that pork supply was tight in August, with prices rising by 23.1%, an increase of 15.3 percentage points over the previous month, affecting CPI by about 0.62 percentage points. Affected by the approaching Mid-Autumn Festival and consumption substitution, the prices of eggs, beef, mutton, chicken and duck increased by 2.0% - 5.9%, which affected the CPI by about 0.10 percentage points. Affected by typhoon and hot weather, fresh vegetable prices rose by 2.8%, affecting CPI by about 0.07 percentage points.

The Nanjing Bank reported that the price of pork and related livestock had risen over the season under the imbalance between supply and demand, which led to the increase of food prices, which was the main reason for the CPI increase this month.

According to the Ministry of Agriculture and Rural Affairs, pork prices began to rise in March and continued to rise rapidly in August. Shen Xinfeng, Macro Analyst at Northeast Securities, pointed out that the main factor contributing to the sharp rise in CPI was that pork prices grew faster than expected. Because of the restrictions of the African swine fever and the environmental policies of various localities on the pig industry, pig farms kept decreasing, and pork prices rose in August, pushing CPI up 1.08 percentage points over the same period last year. Influenced by the rising pork prices, the prices of chicken, beef and mutton and other alternatives also increased significantly, exceeding the normal seasonal changes in previous years, which together pushed up CPI.

Wholesale Price Source of Animal Products in March-September of this year: Wholesale Price Source of Animal Products in March-September of this year: What is the future price situation of the Ministry of Agriculture and Rural Areas?

"The rise of pork and other food prices will not significantly increase inflationary pressures. At present, China's price situation is quite special, one side is the rise of food prices, the other side is the decline of non-food prices. The consumption of non-food also accounts for a high proportion in the consumption of the Chinese people, so overall inflation pressure is not very high. Su Jian, director of the National Economic Research Center of Peking University, said to Sino-Singapore longitude and latitude clients.

Data from the National Bureau of Statistics show that in non-food sectors, transportation and communication prices fell by 2.3% year-on-year. Since this year, telecom operators have launched new measures to speed up and reduce fees, bringing benefits to consumers. From January to August this year, the price of telecommunications services fell by 1.1% year-on-year. In addition, gasoline and diesel prices fell by 1.1% and 1.2% respectively from last month. At the same time, the price of pork and other products increased, while the supply and demand of fresh vegetables and fruits improved, and the price regression weakened the CPI pulling effect. According to the official website of the National Bureau of Statistics, the price of fresh vegetables dropped by 0.8% in August compared with the same period last month, which was the first decline after an 18-month consecutive rise, affecting CPI by about 0.02 percentage points. Fresh fruit prices dropped by 15.1 percentage points compared with the previous month, and their contribution to CPI decreased (0.65% in July and 0.4% in August). This also eases the pressure on the future price situation. On September 11, Vice Minister of Agriculture and Rural Affairs Yu Kangzhen said at the press conference of the State New Office that on September 10, the General Office of the State Council issued "Opinions on Stabilizing Pig Production and Promoting Transformation and Upgrading", emphasizing that the people's governments of all provinces (regions and municipalities) have a stable life in the region. Pig production and protection of market supply are responsible. The Ministry of Agriculture and Rural Areas will work closely with the National Development and Reform Commission and other departments to clarify the division of responsibilities, further strengthen the guidance of local work, promote the implementation of the policies and measures specified in the Opinion as soon as possible, achieve results as soon as possible, accelerate the recovery and development of pig production, and ensure the supply of pork market.

The National Development and Reform Commission also pointed out that in the future, China's prices do not have the basis for a comprehensive and substantial increase. Meng Wei, spokesman for the National Development and Reform Commission, said that China's overall supply of industrial and agricultural products and services was abundant, residents'consumption increased steadily, and the overall price level remained basically stable.