Price: consumer prices fell at the end of the year, and industrial prices continued to decline
In December 2021, CPI increased by 1.5% year-on-year, down 0.8 percentage points from the previous month, down 0.3% month on month, down 0.7 percentage points from the previous month. Among them, the tail warping impact of price changes last year was 0%, down about 0.6 percentage points from the previous month; The impact of the new price rise was about 1.5%, down 0.2 percentage points from the previous month. In addition, from the perspective of core CPI excluding food and energy prices, it increased by 1.2% year-on-year in December, unchanged from the previous month, indicating a moderate recovery in demand and steady growth in overall prices.
In December 2021, PPI increased by 10.3% year-on-year, down 2.6 percentage points from the previous month, down 1.2% month on month, down 1.2 percentage points from the previous month. Among them, the tail warping impact of price changes last year was 0%, down about 1.2 percentage points from the previous month; The impact of the new price rise was about 10.3%, down about 1.4 percentage points from the previous month. The fall of upstream bulk commodities led to the fall of the price of means of production, which became the main reason for the fall of industrial ex factory prices.
