| In February, the consumer price index (CPI) went up by 3.2 percent year-on-year. The prices grew by 3.2 percent in cities and rural areas. The food prices went up by 6.2 percent while the non-food prices increased by 1.7 percent. The prices of consumer goods went up by 3.9 percent and the prices of services grew by 1.5 percent. From January to February, the overall level of CPI increased 3.9 percent over the same period of the previous year.
In February, the month-on-month change of consumer prices was down by 0.1 percent. Of which, prices in cities and rural went down by 0.1 percent simultaneously. The food prices decreased 0.3 percent, the non-food prices remained at the same level. The prices of consumer goods declined 0.1 percent, and the prices of services went down by 0.2 percent.
I. Year-on-Year Changes of Prices of Different Categories
In February, food prices went up by 6.2 percent year-on-year, contributing nearly 1.99 percentage points to the overall growth. Of which, the prices of grain rose by 5.4 percent, meaning 0.15 percentage points growth in the overall price level; meat, poultry and related products, surged 12.9 percent, contributing 0.90 percentage points (price of pork was up by 15.9 percent, contributing 0.50 percentage points); fresh vegetables, up 6.5 percent, contributing 0.21 percentage points; aquatic products, up 7.5 percent, meaning 0.18 percentage points growth in the overall price level; grease, increased 5.6 percent, contributing 0.07 percentage points; fresh fruits, down by 6.1 percent, contributing 0.14 percentage points declined of the overall price; and fresh eggs, decrease 10.6 percent, contributing 0.09 percentage points decrease of the overall price.
Prices for tobacco and liquor went up by 3.7 percent year-on-year, of which, that of liquor was up by 8.7 percent and tobacco was up by 0.4 percent.
Prices for clothing rose by 3.8 percent year-on-year. The prices for clothes went up by 3.9 percent while the prices for shoes increased 3.5 percent.
Prices for household facilities, articles and maintenance services went up by 2.5 percent year-on-year, of which, prices for durable consumer goods was up by 9.4 percent, and household services and processing, maintenance services, up by 0.8 percent.
Prices for health care and personal articles grew by 2.7 percent year-on-year. Of which, prices for traditional Chinese herbal medicines and proprietary Chinese medicines, up 9.1 percent; medical apparatus and supplies increased 3.9 percent; western medicine went down by 0.3 percent; and health care services, up 0.6 percent.
Prices for transportation and communication rose by 0.1 percent year-on-year. Of which, prices for fuels and parts for vehicles, up 6.9 percent; vehicles use and maintenance, up 3.9 percent; intercity traffic fares, up 1.6 percent; incity traffic fares, up 0.6 percent; communication facilities, down by 13.5 percent, and transportation facilities dropped by 0.4 percent.
Prices for recreation, education, culture articles and services down by 0.4 percent year-on-year. Of which, durable consumer goods for recreational and cultural use and services, down by 6.0 percent, touring and outing, down 2.5 percent; recreation and culture, up 1.6 percent; education went up by 1.3 percent.
Prices for residence went up by 2.1 percent year-on-year. Of which, prices for house renting, up 2.5 percent, building and building decoration materials, up 2.3 percent, and water, electricity and fuel rose by 1.7 percent.
According to estimation, in the 3.2 percent growth in February, the carryover effect of last year’s prices rising accounted for 1.7 percentage points, while new prices rising factors in this year accounted for 1.5 percentage points.
II. Month-on-Month Changes of Prices of Different Categories
In February, food prices dropped 0.3 percent month-on-month, contributing 0.11 percentage points to the month-on-month growth of consumer prices. In February, price for meat, poultry and related products declined 1.4 percent, affecting 0.10 percentage points decrease in the overall price level (the prices of pork went down by 2.6 percent, meaning 0.09 percentage points growth in the overall price level), prices for eggs, declined 8.1 percent, contributing 0.07 percentage points decreased in the overall price level; prices for fresh vegetables and fresh fruits, decreased 0.3 and 0.2 percent month-on-month, respectively, the above mentioned two items affecting 0.01 percentage points decrease in the overall price level; price for gain, increased 0.2 percent, contributing 0.01 percentage points growth in the overall price level.
Non-food prices remained the same level over the previous month in February, affecting 0.08 percentage points increase in the overall price level. Of this total, prices for tobacco and liquor, household facilities, articles and maintenance services, health care and personal articles, and transportation and communication, increased 0.2, 0.1, 0.3 and 0.1 percent, month-on-month, prices for clothing, recreation, education, culture articles and services, decreased 0.3 and 0.8 percent, month-on-month. In February, price for touring and outing decreased 6.2 percent, contributing 0.11 percentage points decrease in the overall price level.
|
Consumer Prices in February
|
|
Item
|
February
|
Jan-Feb
|
|
M/M (%)
|
Y/Y (%)
|
Y/Y (%)
|
| |
|
|
|
| Consumer Prices |
-0.1
|
3.2
|
3.9
|
| Of which: Urban |
-0.1
|
3.2
|
3.8
|
| Rural |
-0.1
|
3.2
|
3.9
|
| Of which: Food |
-0.3
|
6.2
|
8.3
|
| Non food |
0.0
|
1.7
|
1.8
|
| Of which: Consumer Goods |
-0.1
|
3.9
|
4.7
|
| Services |
-0.2
|
1.5
|
1.8
|
| By Commodity Categories |
|
|
|
| I. Food |
-0.3
|
6.2
|
8.3
|
| Grain |
0.2
|
5.4
|
5.7
|
| Grease |
0.1
|
5.6
|
5.8
|
| Meat, Poultry and Related Products |
-1.4
|
12.9
|
15.8
|
| Of which: Pork |
-2.6
|
15.9
|
20.4
|
| Eggs |
-8.1
|
-10.6
|
-6.3
|
| Aquatic Products |
0.8
|
7.5
|
10.3
|
| Fresh Vegetables |
-0.3
|
6.5
|
14.2
|
| Fresh Fruits |
-0.2
|
-6.1
|
-2.1
|
| Milk and dairy Products |
0.4
|
6.5
|
6.7
|
| II. Tobacco, Liquor and Articles |
0.2
|
3.7
|
3.7
|
| Tobacco |
0.0
|
0.4
|
0.4
|
| Liquor |
0.4
|
8.7
|
8.8
|
| III. Clothing |
-0.3
|
3.8
|
3.6
|
| Clothing |
-0.6
|
3.9
|
3.6
|
| Shoes |
0.3
|
3.5
|
3.2
|
| IV. Household Facilities, Articles and Maintenance Services |
0.1
|
2.5
|
2.5
|
| Durable Consumers |
0.2
|
0.8
|
0.7
|
| Household Services and Processing, Maintenance Service |
-1.0
|
9.4
|
10.8
|
| V. Health Care and Personal Articles |
0.3
|
2.7
|
2.6
|
| Chinese Herbal Medicines and Proprietary Chinese Medicines |
0.4
|
9.1
|
9.0
|
| Western Medicines |
0.1
|
-0.3
|
-0.4
|
| Health Care Services |
0.0
|
0.6
|
0.5
|
| VI. Transportation and Communication |
0.1
|
0.1
|
0.1
|
| Transportation Facilities |
-0.1
|
-0.4
|
-0.4
|
| Fuels and Parts for Vehicles |
2.2
|
6.9
|
6.4
|
| Communication Facilities |
-0.8
|
-13.5
|
-13.7
|
| Communication Services |
0.0
|
-0.2
|
-0.2
|
| VII. Recreation, Education, Culture Articles and Services |
-0.8
|
-0.4
|
0.1
|
| Education Services |
0.4
|
1.3
|
1.1
|
| Tourism |
-6.2
|
-2.5
|
2.0
|
| VIII. Residence |
0.4
|
2.1
|
2.0
|
| Building and its Decoration Materials |
0.0
|
2.3
|
2.4
|
| House Renting |
0.9
|
2.5
|
2.5
|
| Water, Electricity, and Fuel |
0.3
|
1.7
|
1.3
|
| |
|
|
|
Annotations:
1. Explanatory Notes
Consumer Price Index (CPI) is an index measuring changes over time in the price level of consumer goods and services purchased by residents, which comprehensively reflects the changes of price level.
2. Statistical Coverage
Consumer Price Index (CPI) covers the prices of goods and services of eight categories and 262 basic divisions which cover the living consumption of urban and rural residents, including food; tobacco, liquor and articles; clothing; household facilities, articles and maintenance services; health care and personal articles; transportation and communication; recreation, education, culture articles and services and residence. Data are collected from 63,000 prices collection units in 500 cities and counties of the 31 provinces (autonomous regions and municipalities), which cover grocery stores, department stores, supermarkets, convenience stores, professional markets, franchise houses, shopping centers, open fairs and service consumption units etc.
3. Survey Methods
Original data of consumer prices are collected by specific person in fixed place at fixed time. |
Gregg D. Killoren
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