Yunnan CPI Records 0.4% Monthly Increase in April

Data released on May 14th shows that in April, the consumer price index (CPI) for Yunnan province increased by 0.4% month-on-month and by 1.4% year-on-year. The core CPI, which excludes food and energy prices, rose by 1.3% year-on-year, with the growth rate decreasing by 0.1 percentage points compared to the previous month.

On a month-on-month basis, the CPI shifted from a 0.3% decline in March to a 0.4% increase in April. Within this, food prices decreased by 0.5%, contributing approximately a 0.09 percentage point decline to the CPI. Non-food prices increased by 0.6%, with the growth rate expanding by 0.5 percentage points from the previous month, contributing about a 0.51 percentage point increase to the CPI.

Year-on-year, the CPI rose by 1.4%, with the growth rate expanding by 0.3 percentage points from the previous month. Food prices fell by 2.2%, with the rate of decline widening by 0.9 percentage points, contributing about a 0.37 percentage point decrease to the CPI. Non-food prices increased by 2.1%, with the growth rate expanding by 0.6 percentage points, contributing approximately a 1.75 percentage point increase to the CPI.

Regarding the producer price index (PPI) for Yunnan's industrial sector, the April PPI increased by 2.2% month-on-month and by 8.8% year-on-year, with a cumulative increase of 5.5% from January to April. The industrial purchasing price index (IPI) rose by 3.4% month-on-month and 7.9% year-on-year, with a cumulative increase of 4.5% from January to April.

On a month-on-month basis, the PPI increased by 2.2%, with the growth rate expanding by 0.7 percentage points from the previous month. Among the 32 surveyed major industrial sectors, prices increased in 16 sectors, remained stable in 5, and decreased in 11.

Year-on-year, the PPI rose by 8.8%, with the growth rate expanding by 2.5 percentage points from the previous month. Prices increased in 17 sectors, remained stable in 2, and decreased in 13.

Calculations indicate that within the 8.8% year-on-year increase in the April PPI, the carryover effect from last year's price changes contributed approximately 1.4 percentage points, while new price increases from this year contributed about 7.3 percentage points.