Data released by the Guangdong Survey Team of China's National Bureau of Statistics on December 11 showed that Guangdong's Consumer Price Index (CPI) recorded an expanded year-on-year increase in November, while the Producer Price Index (PPI) continued its monthly upward trend.
Guangdong's CPI rose 0.4% year-on-year in November. Food prices increased by 0.3% compared with the same period last year, driven by higher prices of fresh vegetables and saltwater fish, while pork and egg prices declined. Prices of industrial consumer goods grew 0.2% year-on-year, with gold jewelry and platinum jewelry surging 59.3% and 55.1% respectively.
On a monthly basis, Guangdong's CPI fell 0.4% in November. Food prices dropped 0.1%, while non-food prices declined 0.4%, partly due to seasonal decreases in hotel accommodation and travel agency fees following the end of the National Day-Mid-Autumn holiday period and the Canton Fair.
The PPI saw a slightly wider year-on-year decline but maintained its monthly growth in November, influenced by supply-demand adjustments, fluctuations in global commodity prices, policy factors, and external influences. Month-on-month, the PPI rose 0.1%. Among 38 major industrial sectors surveyed, 16 reported price increases, 14 saw declines, and 8 remained flat, with 42.1% of sectors showing growth - unchanged from October.
Year-on-year, the PPI fell 1.6%. Of the 38 sectors, 10 recorded price increases, 25 saw decreases, and 3 were stable, with the proportion of sectors experiencing growth expanding to 26.3%, up 5.2 percentage points from the previous month.
Comments