Sichuan's CPI Remains Low in 2025, Core CPI Sees Moderate Rebound | Focus on 2025 Sichuan Livelihood Data Part 1

Deep News01-19

On January 19, the NBS Sichuan Survey Corps held a press conference to announce the 2025 livelihood survey data for Sichuan. The data revealed that in 2025, the province experienced stable growth in grain production, steady development in animal husbandry, continuous growth in resident income, low-level operation of consumer and industrial producer prices, and an overall stable urban employment situation. Notably, the core CPI, which excludes food and energy prices, rose by 0.5%, an increase of 0.4 percentage points compared to the previous year.

Grain production remained stable. The annual total grain output for the province reached 36.625 million tons, an increase of 287,000 tons or 0.8% compared to the previous year. The grain-sown area was 96.185 million mu, increasing by 97,000 mu or 0.1% year-on-year. The grain yield per mu was 380.8 kilograms, an improvement of 2.6 kilograms per mu or a 0.7% increase.

Animal husbandry developed steadily. The total output of pork, beef, mutton, and poultry in the province for the year was 6.669 million tons, an increase of 211,000 tons or 3.3% over the previous year. Specifically, pork output was 5.02 million tons, up 4.7%; beef output was 390,000 tons, up 5.1%; mutton output was 208,000 tons, down 9.4%; and poultry meat output was 1.051 million tons, down 1.1%. The number of live pigs slaughtered annually reached 62.48 million head, a 1.6% increase year-on-year, while the inventory of live pigs at year-end was 35.821 million head, a decrease of 1.7% from the previous year.

Resident income continued to grow. The per capita disposable income of all residents in the province for the year was 36,120 yuan, a nominal increase of 5.2% year-on-year, and a real increase of 5.5% after adjusting for price factors. By place of residence, the per capita disposable income of urban residents was 49,428 yuan, a nominal increase of 4.4% and a real increase of 4.6%; the per capita disposable income of rural residents was 22,494 yuan, a nominal increase of 5.6% and a real increase of 6.2%. The urban-rural income ratio decreased from 2.22 in the previous year to 2.20, indicating a continued narrowing of the relative income gap. The per capita consumption expenditure of all residents for the year was 26,073 yuan, a nominal increase of 4.8% and a real increase of 5.1% after price adjustment. For urban residents, per capita consumption expenditure was 32,181 yuan, a nominal increase of 4.2% and a real increase of 4.4%; for rural residents, it was 19,818 yuan, a nominal increase of 5.0% and a real increase of 5.6%.

Consumer prices operated at a low level, with the core CPI experiencing a moderate rebound. The provincial Consumer Price Index (CPI) for the full year fell by 0.3% compared to the previous year. Structurally, food prices fell by 2.2%, while non-food prices rose by 0.1%; prices of consumer goods fell by 0.8%, while prices of services rose by 0.5%. In December, the provincial CPI increased by 0.2% year-on-year but decreased by 0.1% month-on-month.

Industrial producer prices declined for the year but showed a monthly increase in December. The full-year provincial Producer Price Index (PPI) fell by 2.8% compared to the previous year. In December, it decreased by 2.5% year-on-year but increased by 0.8% month-on-month. The full-year Purchasing Price Index for Industrial Producers fell by 3.6% year-on-year. In December, it decreased by 2.8% year-on-year but increased by 0.9% month-on-month.

The employment situation remained generally stable. The average annual urban surveyed unemployment rate for the province was 5.3%, unchanged from the previous year. By quarter, influenced by seasonal factors such as the Spring Festival return and post-holiday resumption of work, the average urban surveyed unemployment rate in the first quarter was 5.4%. The employment situation improved in the second quarter, with the average rate dropping to 5.1%. In the third quarter, affected by the concentrated graduation and job-seeking of college graduates, the average urban surveyed unemployment rate rose to 5.4%. It fell back to 5.3% in the fourth quarter. In December, the provincial urban surveyed unemployment rate was 5.2%.

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