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The growth of CPI has been over 2% for three consecutive months, indicating the continuous rise in the price of vegetables.
2018-09-12 11:05:08

Last month, the issue of rising vegetable prices presented a major concern for the general public, which calls the public attention to the trend of CPI in August. On September 10th, the Survey Office of the National Bureau of Statistics in Zhejiang officially announced the Consumer Price Index (CPI) and the Producer Price Index (PPI) in Zhejiang in August. Data show that in August, the consumer price in Zhejiang rose by 2.2% year-on-year and by 0.5% month-on-month, and that the producer price in Zhejiang rose by 4.1% year-on-year and by 0.5% month-on-month.

 

A comparison with the previous data clearly shows that CPI in Zhejiang has been rising by more than 2% for three consecutive months, representing a 0.2% increase year-on-year and month-on-month and a super seasonal increase. Was there a “contribution” made by the price rise of fresh vegetables?

 

The rise and fall in the prices of the eight categories of products shows that the growth of CPI was mainly due to the growing increase in the price of food, tobacco and alcohol, in addition to the rise in the price of fresh vegetables. According to the analysis of the Survey Office, in August, due to influences of the frequent typhoons and the floods in the northern production areas, the supply of fresh vegetables was tight in a short period of time, the prices of leafy vegetables and other varieties rose sharply, and the price of fresh vegetables rose by 9.2% compared with the previous month. Besides, as a result of the scorching heat and the epidemic, the amount of pork provided decreased, leading to a month-on-month 4.4% increase in the price of pork.

 

According to the analysis of the relevant departments of the Department of Commerce of Zhejiang Province, as it is gradually getting colder and vegetables in the local and surrounding areas are gradually launched into the market, the demand from canteens in schools and employers has been increasing sharply, resulting in a small peak in vegetable demand. Accordingly, it is expected that the price of vegetables will continue to rise in the near future. At present, the rise in the pork price is within the normal range, and with the demand from schools released recently, the peak season of demand has traditionally appeared on the market, forecasting the continuous increase in the price of pork.

 

In August, for the prices of the other seven categories, those of five types rose, those of one type leveled off, and those of one type fell. Among them, the prices of housing, health care, clothing, transport and communications, daily necessities and services rose by 0.5%, 0.4%, 0.3%, 0.2%, and 0.2% respectively; prices of other supplies and services fell by 0.2%; prices of education, culture, and entertainment remained almost stable.

 

In terms of PPI in August, for the prices of 37 major categories of products, those of 24 increased, those of 7 decreased, and those of 6 kept constant. In the industries where prices rose, the prices of products from ferrous metal mining industries rose by 8.2%, the prices of metal products, machinery, and products for the repair of equipment rose by 3.2%, and the prices of products from the chemical fiber manufacturing rose by 2.7%.

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