National Bureau of Statistics: In September, the year-on-year increases in both CPI and PPI widened.

On October 14, Dong Lijuan, Chief Statistician of the Urban Survey Department of the National Bureau of Statistics, interpreted the CPI and PPI data for September 2026. Dong Lijuan stated that in September, the consumer price index (CPI) rose 0.2% month-on-month, with the increase down 0.2 percentage points from the previous month; it rose 0.9% year-on-year, with the increase up 0.1 percentage points from the previous month; core CPI, excluding food and energy prices, rose 1.0% year-on-year, with the increase the same as the previous month. The producer price index (PPI) rose 1.2% month-on-month, with the increase up 0.8 percentage points from the previous month; it rose 5.0% year-on-year, with the increase up 1.2 percentage points from the previous month. The original text is as follows: In September 2026, both CPI and PPI year-on-year increases widened Dong Lijuan, Chief Statistician of the Urban Survey Department of the National Bureau of Statistics, interprets the CPI and PPI data for September 2026 In September, the consumer price index (CPI) rose 0.2% month-on-month, with the increase down 0.2 percentage points from the previous month; it rose 0.9% year-on-year, with the increase up 0.1 percentage points from the previous month; core CPI, excluding food and energy prices, rose 1.0% year-on-year, with the increase the same as the previous month. The producer price index (PPI) rose 1.2% month-on-month, with the increase up 0.8 percentage points from the previous month; it rose 5.0% year-on-year, with the increase up 1.2 percentage points from the previous month. I. CPI month-on-month increase narrowed, year-on-year increase widened From a month-on-month perspective, national CPI rose 0.2%, with the increase down 0.2 percentage points from the previous month. Among this, service prices changed from a 0.1% increase last month to a 0.2% decrease, and their impact on CPI month-on-month changed from pulling it up by about 0.04 percentage points last month to pulling it down by about 0.08 percentage points. Among services, as the summer vacation ended, prices for air tickets, hotel accommodation, and travel agency fees fell 8.7%, 7.0%, and 6.0% respectively, together affecting CPI month-on-month down by about 0.12 percentage points; with the autumn school term beginning, education service prices rose 0.4%, affecting CPI month-on-month up by about 0.03 percentage points. Industrial consumer goods prices rose 0.7%, with the increase down 0.1 percentage points from the previous month, affecting CPI month-on-month up by about 0.22 percentage points. Among industrial consumer goods, affected by changes in international market prices, domestic gasoline prices rose 4.9%, with the increase down 2.3 percentage points from the previous month, while gold jewelry prices changed from a 7.6% increase last month to a 2.1% decrease, with the two together affecting CPI month-on-month up by about 0.14 percentage points; affected by higher costs, prices for mobile phones, computers, data storage devices, and tablet computers rose 3.7%, 2.0%, 1.7%, and 1.5% respectively, together affecting CPI month-on-month up by about 0.04 percentage points; the launch of autumn clothing drove apparel prices up 0.7%, affecting CPI month-on-month up by about 0.03 percentage points. Food prices rose 0.4%, with the increase the same as the previous month, 0.8 percentage points below the seasonal level, affecting CPI month-on-month up by about 0.06 percentage points. Among foods, prices for fresh vegetables, pork, eggs, and fresh fruit rose between 0.5% and 2.3%, together affecting CPI month-on-month up by about 0.05 percentage points; beef and mutton prices continued to rise, increasing 3.1% and 1.4% this month respectively, with both increases widening, together affecting CPI month-on-month up by about 0.04 percentage points; as the fishing moratorium ended, aquatic product supply was sufficient, and prices fell 0.8%, affecting CPI month-on-month down by about 0.02 percentage points. From a year-on-year perspective, national CPI rose 0.9%, with the increase up 0.1 percentage points from the previous month. Among this, gasoline prices rose 16.6%, with the increase up 7.3 percentage points, affecting CPI year-on-year up by about 0.47 percentage points, driving the increase in energy prices from 4.1% last month to 7.3% this month. Industrial consumer goods prices excluding energy rose 1.6%, with the increase down 0.2 percentage points, affecting CPI year-on-year up by about 0.39 percentage points. Among this, gold jewelry prices rose 22.5%, with the increase down 11.1 percentage points, affecting CPI year-on-year up by about 0.11 percentage points; prices for data storage devices, tablet computers, computers, and mobile phones rose 46.7%, 23.6%, 21.8%, and 14.9% respectively, with all increases widening, together affecting CPI year-on-year up by about 0.23 percentage points. Service prices rose 0.8%, with the increase the same as the previous month, affecting CPI year-on-year up by about 0.40 percentage points. Among services, travel service prices rose 2.1%, with the increase up 0.8 percentage points; medical service prices rose 4.0%, with the increase the same as the previous month. Food prices fell 1.7%, with the decline up 0.3 percentage points from the previous month, affecting CPI year-on-year down by about 0.29 percentage points. Among foods, pork and fresh vegetable prices fell 10.0% and 8.1% respectively, together affecting CPI year-on-year down by about 0.33 percentage points; prices for grain, edible oil, dairy, and fresh fruit fell between 0.6% and 1.5%, together affecting CPI year-on-year down by about 0.07 percentage points; egg prices rose 17.4%, with the increase down 1.1 percentage points, affecting CPI year-on-year up by about 0.07 percentage points; beef and mutton prices rose 7.5% and 6.4% respectively, with increases continuing to widen, together affecting CPI year-on-year up by about 0.08 percentage points. II. Both PPI month-on-month and year-on-year increases widened From a month-on-month perspective, national PPI rose 1.2%, with the increase up 0.8 percentage points from the previous month. The main characteristics of PPI month-on-month performance this month: First, rising international crude oil and nonferrous metal prices drove up prices in related domestic industries. Prices for oil extraction, refined petroleum product manufacturing, and organic chemical raw material manufacturing rose 14.5%, 7.4%, and 5.4% respectively, while prices for nonferrous metal mining and dressing and nonferrous metal smelting and rolling processing rose 1.6% and 1.5% respectively, with the five industries together affecting PPI month-on-month up by about 0.63 percentage points. Second, changes in supply and demand conditions in some energy and raw material industries pulled prices up. Affected by factors such as increased demand for coal for winter heating, a temporary tightening of supply in major producing areas, and the expected effect of rising international coal prices, prices for coal mining and washing and coal processing rose 9.5% and 13.6% respectively; demand for building materials such as steel and cement rebounded somewhat, and coupled with rising raw material costs, prices for non-metallic mineral products changed from declines for seven consecutive months to a 0.3% increase, while prices for ferrous metal smelting and rolling processing rose 0.2%, with the four industries together affecting PPI month-on-month up by about 0.38 percentage points. Third, accelerated development in fields such as artificial intelligence and computing-power coordination drove increased demand and higher prices in some industries. Prices for electrical machinery and equipment manufacturing and computer, communication, and other electronic equipment manufacturing both rose 0.4%, with the two industries together affecting PPI month-on-month up by about 0.07 percentage points. From a year-on-year perspective, national PPI rose 5.0%, with the increase up 1.2 percentage points from the previous month. By major industry, among industries with price increases, coal mining and washing rose 35.3%, oil and natural gas extraction, petroleum coal and other fuel processing, and chemical raw materials and chemical products manufacturing rose 24.5%, 21.6%, and 12.1% respectively, nonferrous metal mining and dressing and nonferrous metal smelting and rolling processing both rose 21.4%, electrical machinery and equipment manufacturing rose 6.2%, and computer, communication, and other electronic equipment manufacturing rose 5.8%; the increases in all eight industries widened from the previous month, together affecting PPI year-on-year up by about 5.42 percentage points, with the upward pull increasing by 1.12 percentage points from the previous month. Among industries with price declines, wine, beverage, and refined tea manufacturing fell 5.3%, electricity and heat production and supply fell 3.9%, pharmaceutical manufacturing fell 3.3%, non-metallic mineral products fell 2.5%, and automobile manufacturing fell 2.0%; the five industries together pulled PPI year-on-year down by about 0.66 percentage points. This article was compiled from the official website of the "National Bureau of Statistics", edited by GMTEight: Xu Wenqiang.