CHINA CPI & PPI BREAKDOWN:
CPI
🔸June CPI experienced a seasonal m/m decrease.
🔸The core CPI rose by 0.6% y/y, unchanged.
🔸Food prices dropped by 2.1% y/y, decline expanded.
🔸Beef and mutton fell by 13.4% and 7.1% y/y, amid oversupply.
🔸Pork prices rise by 18.1% y/y, vs +13.5 PPS vs May.
🔸Vegetables -7.3% y/y, +9 pps vs May.
For y/y price changes
🔽Food, tobacco & liquor -1.1%
🔼Clothing +1.5%
🔼Accomodation +0.2%
🔼Necessities & services +0.9%
🔽Transportation & Communication -0.3%
🔼Education, Culture & Entertainment +1.7%
🔼Healtcare +1.5%
🔼Other +4.0%
For m/m price changes
🔽Food, tobacco & liquor -0.4%
🔽Clothing -0.2%
🔼Accomodation +0.1%
🔽Necessities & services -0.4%
🔽Transportation & Communication -0.6%
🔽Education, Culture & Entertainment -0.2%
🔼Healtcare +0.1%
🔽Other -0.2%
🔸The core CPI rose by 0.6% y/y, unchanged.
🔸Food prices dropped by 2.1% y/y, decline expanded.
🔸Beef and mutton fell by 13.4% and 7.1% y/y, amid oversupply.
🔸Pork prices rise by 18.1% y/y, vs +13.5 PPS vs May.
🔸Vegetables -7.3% y/y, +9 pps vs May.
For y/y price changes
🔽Food, tobacco & liquor -1.1%
🔼Clothing +1.5%
🔼Accomodation +0.2%
🔼Necessities & services +0.9%
🔽Transportation & Communication -0.3%
🔼Education, Culture & Entertainment +1.7%
🔼Healtcare +1.5%
🔼Other +4.0%
For m/m price changes
🔽Food, tobacco & liquor -0.4%
🔽Clothing -0.2%
🔼Accomodation +0.1%
🔽Necessities & services -0.4%
🔽Transportation & Communication -0.6%
🔽Education, Culture & Entertainment -0.2%
🔼Healtcare +0.1%
🔽Other -0.2%
![CHINA CPI & PPI BREAKDOWN:](https://sgsnsimg.moomoo.com/sns_client_feed/103055095/20240711/8d9c4836fb8944f3886aba6723b97a60.jpg/big?area=101&is_public=true)
![CHINA CPI & PPI BREAKDOWN:](https://sgsnsimg.moomoo.com/sns_client_feed/103055095/20240711/f832216e836d45728f1e165c9b37e8e7.jpg/big?area=101&is_public=true)
PPI
🔸PPI y/y decline narrowed in June, and m/m growth turned negative.
🔸PPI -0.2% m/m, with a +0.1% input prices and producer prices for consumption goods remained at -0.1%.
🔸With the peak summer season approaching, coal demand has increased seasonally, leading to a 1.1% rise in the prices of coal mining and washing.
🔸Cement companies have reduced production, and the implementation of new national standards has increased cost support, causing cement manufacturing prices to shift from a 0.8% decrease to a 3.3% increase.
🔸Tight supply has driven up prices in the non-ferrous metal smelting and rolling processing industry by 1.6%, with lead smelting, aluminum smelting, and copper smelting prices rising by 4.8%, 2.6%, and 0.8%, respectively.
🔸International oil price declines have led to a 2.9% drop in domestic oil and natural gas extraction prices.
🔸With prior restocking demand met and high temperatures and heavy rain affecting construction steel demand has weakened, resulting in a 0.6% decrease in prices for ferrous metal smelting and rolling processing.
🔸In the equipment manufacturing industry, lithium-ion battery manufacturing prices fell by 0.5%, and new energy vehicle manufacturing prices decreased by 0.1%.
🔸PPI -0.2% m/m, with a +0.1% input prices and producer prices for consumption goods remained at -0.1%.
🔸With the peak summer season approaching, coal demand has increased seasonally, leading to a 1.1% rise in the prices of coal mining and washing.
🔸Cement companies have reduced production, and the implementation of new national standards has increased cost support, causing cement manufacturing prices to shift from a 0.8% decrease to a 3.3% increase.
🔸Tight supply has driven up prices in the non-ferrous metal smelting and rolling processing industry by 1.6%, with lead smelting, aluminum smelting, and copper smelting prices rising by 4.8%, 2.6%, and 0.8%, respectively.
🔸International oil price declines have led to a 2.9% drop in domestic oil and natural gas extraction prices.
🔸With prior restocking demand met and high temperatures and heavy rain affecting construction steel demand has weakened, resulting in a 0.6% decrease in prices for ferrous metal smelting and rolling processing.
🔸In the equipment manufacturing industry, lithium-ion battery manufacturing prices fell by 0.5%, and new energy vehicle manufacturing prices decreased by 0.1%.
![CHINA CPI & PPI BREAKDOWN:](https://sgsnsimg.moomoo.com/sns_client_feed/103055095/20240711/dd9f8b074dc240a29ed10af20b603236.jpg/big?area=101&is_public=true)
![CHINA CPI & PPI BREAKDOWN:](https://sgsnsimg.moomoo.com/sns_client_feed/103055095/20240711/fcc48ef812dc43dd81adc7cd46c95bb1.jpg/big?area=101&is_public=true)
![CHINA CPI & PPI BREAKDOWN:](https://sgsnsimg.moomoo.com/sns_client_feed/103055095/20240711/7898b1b1ab344d7f91c2d3b98dd45315.jpg/big?area=101&is_public=true)
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