CCTV News: National Bureau of Statistics released data on January 9: In 2024, the national consumer price index CPI rose by 0.2% year-on-year, and the industrial producer price index PPI fell by 2.2% year-on-year.
In December 2024, the consumer market was generally stable, with CPI remaining flat on the month-on-month and up 0.1% year-on-year.
From the whole year, CPI rose moderately in 2024. By structure, the prices of family services, tourism, and overseas catering have risen to varying degrees. There is strong demand for industrial consumer goods and overall prices are stable. Food supply is generally sufficient and prices are falling. Among them, the prices of pork and vegetables rose slightly, while the prices of beef, eggs and fruits fell.
In December 2024, PPI fell by 0.1% month-on-month and 2.3% year-on-year. In 2024, PPI fell by 2.2% year-on-year.
He Xiaoying, deputy director of the Analysis and Forecasting Department of the Price Monitoring Center of the National Development and Reform Commission, introduced that the decline in PPI in 2024 narrowed compared with the previous year, among which the prices of the non-ferrous metal industry rose significantly, mainly driven by factors such as the rapid development of new energy and other industries, the ex-factory price increase of products in non-ferrous metal mining, non-ferrous metal smelting and processing industries has significantly expanded. Looking ahead to 2025, the country will implement more active fiscal policies and moderately loose monetary policies. As the policy effects appear, the overall price level is expected to continue to return to a reasonable range.
