National Bureau of Statistics interpretation: CPI moderately rises in April, PPI increase expands

On May 11, Dong Lijuan, the chief statistician of the Urban Bureau of the National Bureau of Statistics, interpreted the CPI and PPI data for April 2026. In April, due to fluctuations in international crude oil prices and an increase in holiday travel demand, the Consumer Price Index (CPI) rose by 0.3% month-on-month and 1.2% year-on-year. The core CPI, which excludes food and energy prices, rose by 1.2% year-on-year, maintaining a moderate increase. Influenced by the rapid increase in international commodity prices, increased demand in certain domestic industries, and continuous improvement in market competition, the Producer Price Index (PPI) rose by 1.7% month-on-month and 2.8% year-on-year, with the increase widening compared to the previous month. The full text is as follows: CPI moderately rebounds, PPI widens - Dong Lijuan, Chief Statistician of the Urban Bureau of the National Bureau of Statistics, interprets the CPI and PPI data for April 2026 In April, the Consumer Price Index (CPI) rose by 0.3% month-on-month and 1.2% year-on-year, mainly driven by the increase in energy and travel service prices. Due to fluctuations in international crude oil prices, domestic energy prices rose by 5.7%, with gasoline prices rising by 12.6%. Service prices increased by 0.5%, driven by the increased demand for travel services during the Qingming Festival, May Day holiday, and some regions' spring break. Medical service prices rose by 0.6%. Food prices fell by 1.6%, with vegetables, fruits, pork, and seafood prices declining. Excluding energy, industrial consumer goods prices remained stable. Year-on-year, the CPI rose by 1.2%, influenced by a 3.5% increase in industrial consumer goods prices. The rise in international commodity prices affected gasoline, gold jewelry prices, household appliances, and clothing prices. Service prices increased by 0.9%, mainly driven by medical and education services. However, food prices fell by 1.6%, with pork prices declining by 15.2%. In terms of the PPI, it rose by 1.7% month-on-month and 2.8% year-on-year in April. This increase was driven by rising prices in petroleum-related industries, increased demand in certain domestic industries, and market competition optimization. Year-on-year, the PPI saw a 2.8% increase, with the main contributors being the metal mining and extraction industry, petroleum industries, and manufacturing of chemical products. (Source: National Bureau of Statistics; GMTEight Editor: Huang Xiaodong)