Beijing, April 13 (Xinhua) According to the price department of the National Development and Reform Commission, since the beginning of this year, the relationship between supply and demand in the market has continued to improve, the overall price operation has been stable, and the upstream and downstream price trends have tended to be coordinated, reflecting the stable economic operation and new achievements in structural adjustment. The main performance is as follows:
First, the price increase in the consumer sector rebounded slightly, and the price of services rose slightly.
CPI rose slightly, continuing a moderate upward trend. In the first quarter, CPI rose by 2.1% year-on-year, 0.7 percentage points higher than the same period of last year, continuing the trend of moderate increase since last year. Among them, each month increased by 1.5%, 2.9% and 2.1% year-on-year, respectively, and the monthly increase fluctuated mainly due to weather, hikes, festivals and other factors, all within a reasonable range.
Service prices rose slightly faster, reflecting the accelerated pace of household consumption upgrading. In 2017, the service price rose by 3%, which exceeded food for the first time and became the main factor affecting the CPI increase. In the first quarter, service prices continued to rise, rising by 2.9% year-on-year, among which the prices of tourism, air tickets, medical care and family services rose by 4.1%, 5.7%, 6.0% and 5.4% respectively, reflecting the accelerated growth of residents’ demand for leisure tourism, medical care and other needs related to a better life.
Second, the price increase in the production sector has declined, and the upstream and downstream price trends tend to be coordinated.
In the first quarter, PPI rose by 3.7% year-on-year, 2.1 percentage points lower than that in the fourth quarter of last year, and the upward trend tended to be stable, in line with market expectations. With the decline of PPI increase, the "scissors difference" between upstream and downstream prices has narrowed sharply to 1.6 percentage points, and the trend tends to be coordinated, and the transmission pressure from upstream prices to downstream prices has obviously eased.
While the increase of PPI gradually fell back to a reasonable range, industrial production was stable and benefits continued to improve. In the first two months, the added value of industrial enterprises above designated size actually increased by 7.2% year-on-year, and the profits increased by 16.1% year-on-year; At the end of February, the asset-liability ratio of industrial enterprises above designated size decreased by 0.8 percentage points year-on-year. This reflects that new industry development expectations, market order and the relationship between supply and demand are taking shape, and remarkable results have been achieved in reducing production capacity, adjusting structure and improving supply quality.
Third, the key commodity market is well supplied and the price runs in a reasonable range.
In the first two months, in the field of living materials, the output of household refrigerators and washing machines was 11.829 million and 11.006 million respectively; In the field of means of production, the output of raw coal, crude steel and cement is 516 million tons, 137 million tons and 220 million tons respectively. Compared with the same period of last year, it has increased to varying degrees.
The comprehensive average price of four kinds of steel products (rebar, wire rod, medium plate and cold rolled sheet), the price of Qinhuangdao 5,500 kcal thermal coal and the price of composite portland cement (grade 32.5) in the main market are about 4,200 yuan, 585 yuan and 380 yuan respectively, which is lower than that at the beginning of the year. The prices of grain and edible vegetable oil remained generally stable, the prices of vegetables were seasonally adjusted back, and the prices of live pigs fell periodically.
Fourth, the market is expected to be generally stable and the price order is stable and standardized.
From the market expectation, it is generally believed that the current prices are generally stable, and it is expected that the stable trend will continue during the year, and CPI and PPI will operate in a moderate range throughout the year. In response to the year-on-year increase in CPI in February due to holidays, Zhejiang, Tianjin and other places started the linkage mechanism of price subsidies in time, and issued temporary price subsidies, which stabilized the basic life of people in need.
Judging from the price reports, in the first quarter, producers’ production was stable, operators’ operations were orderly, consumers’ consumption was rational, and the market price order was generally standardized. The number of price reports and complaints decreased by about 18% year-on-year.
Recently, the domestic and international environment is complex and changeable, and there are some uncertain factors in the price operation, but generally speaking, the price will remain stable. From the macro-environment, China’s economy has shifted from a high-speed growth stage to a high-quality development stage, macro-control policies have maintained continuity and stability, and the total supply and demand relationship is relatively stable; From the perspective of market supply, China’s grain production has been bumper year after year, the planting area of oil crops has increased steadily, the production capacity of pigs is at a high level, and the inventory level of grain and oil in the whole society is high; The production capacity of industrial consumer goods is sufficient and the market competition is sufficient; The service industry is developing rapidly, and the supply capacity is constantly improving, which has a solid foundation for maintaining the stable operation of prices.
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