The Bureau of Statistics said pork prices would gradually stabilize

On November 14, the National Bureau of statistics held a press conference. Liu Aihua, spokesman of the National Bureau of statistics, introduced the operation of the national economy in October 2019. As far as everyone is concerned about the price situation in October, Liu Aihua said that with regard to the trend of pork price and CPI, CPI rose 3.8% year-on-year in October, 0.8 percentage point higher than last month. It should be said that the current price rise continues to show the characteristics of structural rise. In terms of specific data, in October, food prices rose 15.5% year on year, driving CPI up 3.05 percentage points and contributing 80% to CPI. In the case of a relatively high increase in food prices, non food prices continued to maintain a relatively stable upward trend. Non food prices rose 0.9% in the current month, contributing about 0.7 percentage points to the overall. This is an obvious structural feature. According to Liu Aihua, there are also structural features in food. In the food industry, pork is the fastest growing one. Pork prices rose 101.3% year-on-year in October, driving CPI by nearly 64% and contributing nearly two-thirds of the total, so pork prices are the main driving factor. However, the prices of other foods, including grain and oil prices, are relatively stable, and fresh fruits and vegetables with a large increase in the early stage. Since the overall climate is relatively good and the supply is relatively sufficient after autumn, the prices are declining year-on-year after October.

Among them, the price of fresh vegetables decreased by more than 10%, and the price of fresh fruits increased by 7.7% from last month to 0.3%. The drop in the price of fresh fruits and vegetables has a drop-down effect of nearly 0.3% on the whole CPI. So whether it is from the whole CPI or the inside of food, it shows such structural characteristics. On the whole, Liu Aihua said that the core CPI in October was only 1.5%, the same as last month. From January to October, the core CPI was 1.7%, the same as the previous three quarters. And CPI rose 2.6% year on year from January to October, still within the expected target at the beginning of the year. Therefore, the overall CPI is still in a moderate upward trend. As for the future trend of pork price, Liu Aihua said that from the current situation of pork, governments at all levels attach great importance to the restoration of pig production. Recently, they have taken various measures to ensure supply and price stability, increased pork supply in various ways, launched the mechanism of linkage between social assistance and security standards and price rise in time, increased living subsidies for the people in need, and ensured that Life of the people in need will not be affected. With the implementation of policies and measures related to the recovery of pig production, pig production capacity will gradually recover and pork prices will gradually stabilize.