Bureau of Statistics: CPI rose 2.4% in August from a year earlier

SMM News: in August 2020, the national consumer price rose 2.4% compared with the same period last year. Of this total, urban prices rose by 2.1%, rural areas by 3.2%, food prices by 11.2%, non-food prices by 0.1%, consumer goods prices by 3.9%, and service prices by 0.1%. From January to August, consumer prices nationwide rose 3.5 percent over the same period last year.

In August, consumer prices across the country rose 0.4 percent from the previous month. Among them, urban prices rose 0.4%, rural areas rose 0.4%; food prices rose 1.4%, non-food prices rose 0.1%; consumer goods prices rose 0.6%, and service prices remained unchanged.

I. year-on-year changes in the prices of all kinds of goods and services

In August, the price of food, tobacco and alcohol rose 8.8% from a year earlier, affecting the CPI (consumer price index) to rise by about 2.71%. In food, livestock and meat prices rose by 42.0%, affecting CPI by about 2.28%, of which pork prices rose by 52.6%, affecting CPI by about 1.74%; fresh vegetable prices by 11.7%, affecting CPI by about 0.29%; aquatic product prices by 3.4%, affecting CPI by about 0.06%; The price of fresh fruit fell by 19.8%, affecting CPI by about 0.38%; the price of eggs by 11.0%, and affecting CPI by about 0.07%.

The prices of the other seven categories have risen by two, one by one and four by four. Among them, the prices of other supplies and services and health care rose by 6.1 per cent and 1.5 per cent respectively; the prices of education, culture and entertainment remained the same; the prices of transportation, communications and housing fell by 3.9 per cent and 0.7 per cent respectively; and the prices of clothing, daily necessities and services fell by 0.5 per cent and 0.1 per cent respectively.

II. Month-on-month changes in the prices of all kinds of goods and services

In August, food, tobacco and alcohol prices rose 1.0% month-on-month, affecting CPI to rise by about 0.32%. In food, the price of eggs rose by 9.4%, affecting CPI by about 0.05%; the price of fresh vegetables rose by 6.4%, affecting CPI by about 0.16%; and the price of livestock and meat rose by 1.4%, affecting CPI by about 0.10%, of which pork prices rose by 1.2%, affecting CPI by about 0.06%. The prices of aquatic products and fresh fruits both fell by 0.4%, and the total impact on CPI decreased by about 0.02%.

The prices of the other seven categories are up, one flat and two lower than that of the other seven categories. Among them, the prices of other supplies and services, transportation and communications rose 2.4% and 0.3% respectively, the prices of housing and health care all rose 0.1%, the prices of daily necessities and services remained the same, and the prices of education, culture and entertainment, and clothing decreased by 0.3% and 0.2%, respectively.

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