Dong Lijuan, Chief Statistician of the Urban Department of the National Bureau of Statistics, interprets the CPI and PPI data for October 2025.

In October, measures such as expanding domestic demand continued to take effect, combined with the National Day and Mid-Autumn Festival holidays driving up prices. The consumer price index rose by 0.2% month-on-month and 0.2% year-on-year. The core CPI, which excludes food and energy prices, rose by 1.2% year-on-year, marking the sixth consecutive month of increase. Influenced by factors such as improvements in supply and demand relationships in certain domestic industries and the transmission of international commodity prices, the producer price index for industrial products rose by 0.1% month-on-month, marking the first increase of the year; it decreased by 2.1% year-on-year, narrowing by 0.2 percentage points compared to the previous month, marking the third consecutive month of narrowing.