2024-4 CPI increased by 0.3% year-on-year and 0.1% month on month

According to data released by the National Bureau of Statistics, consumer demand continued to recover in April, and the national CPI increased from a decrease to an increase month on month, with a year-on-year increase expanding. The core CPI, excluding food and energy prices, increased by 0.2% month on month, compared to a decrease of 0.6% last month; The year-on-year increase was 0.7%, an increase of 0.1 percentage points from the previous month. From a month on month perspective, CPI rose by 0.1%, compared to a decrease of 1.0% last month. From a year-on-year perspective, CPI increased by 0.3%, an increase of 0.2 percentage points compared to the previous month. In April, industrial production continued to recover, with some industries experiencing a temporary decline in demand. The national PPI decreased month on month, but the year-on-year decline narrowed. From a month on month perspective, the PPI decreased by 0.2%, an increase of 0.1 percentage points compared to the previous month. From a year-on-year perspective, PPI decreased by 2.5%, which is 0.3 percentage points narrower than the previous month.