Pork Remains CPI Inflation Meets Global Financial Turmoil

Domestic CPI hits new heights and hits global financial turmoil China's CPI rose by 6.5 percent year-on-year to a 37-month high last month. Pork rose 56.7%. European and American stocks turned higher. Chinese A-shares bottomed out. National Bureau of Statistics announced on July 2011 that the main macro According to economic data, the national consumer price index (CPI) rose by 6.5% year-on-year in July, hitting a 37-month high.

At the same time, due to the impact of the dual-bond crisis in Europe and the United States, the market's worries about the bottoming out of the global economy have again risen. "The domestic inflation has reached new heights" has encountered "global financial turmoil", internal and external problems, and China's economic situation under double attack is unprecedentedly complicated.

Food prices rose by 14.8% year-on-year

Data shows that food prices still lead the CPI. In July, China’s food prices rose by 14.8% year-on-year, affecting the overall price level by about 4.38 percentage points. Among them, pork prices rose by 56.7% year-on-year, affecting the overall price level by approximately 1.46 percentage points; grain prices rose by 12.4%, affecting the total price level by approximately 0.34 percentage points; egg prices by 19.7%, affecting the overall price level by approximately 0.15 percentage points. .

Housing prices rose second. In July, the price of housing in China increased by 5.9% year-on-year. Among them, the prices of water, electricity, and fuel rose by 4.4%, the price of housing and decoration materials rose by 5.5%, and the rental price of housing increased by 4.0%.

Last year's hikes had a big impact. In addition, prices of alcoholic drinks and tobacco in China rose by 2.8% year-on-year in July, clothing prices rose by 2.2%, prices of household equipment and maintenance services rose by 2.7%, prices of medical care and personal care products rose by 3.6%. The price of transportation and communications rose by 0.9%, and the prices of entertainment, education, cultural goods and services rose by 0.5%.

According to the analysis made by the National Bureau of Statistics, in the 6.6% YoY CPI increase in July, the hikes in prices last year were about 3.3 percentage points, and the new price increase factor this year was about 3.2 percentage points.

From the ring data that can better reflect the latest changes in prices, China's CPI rose by 0.5% (compared with the previous month) in July, and the chain growth rate increased by 0.2% from the previous month. Among them, food prices rose by 1.2% month-on-month, affecting the overall price level by about 0.37 percentage points, and pork prices in food prices rose by 7.7% month-on-month, a decrease of 3.7 percentage points from the previous month.

The National Bureau of Statistics report also pointed out that in July the national industrial producer's ex-factory price (PPI) rose by 7.5% year-on-year, which was the same level as last month; the purchase price of industrial producers rose by 11.0% year-on-year and rose by 0.1% from the previous month.

In Chongqing, the year-on-year increase in pork sales was up to 88.14%

The July price monitoring of agricultural and sideline products announced by the Shanghai Municipal Price Bureau showed that in July, the prices of major agricultural and sideline products in the city rose as a whole. Among them, the increase in pork ranked first, the price of third-line meat rose by 88.14% compared with the same period of last year, and the edible oil price was stable overall. The prices rose slightly and the vegetable prices rose slightly overall.

According to statistics from the Municipal Price Bureau, in July the city’s meat and poultry products were slightly under-supplied, and prices rose significantly. The city's average price per 500 grams of lean meat rose from 15.38 yuan last month to 17.51 ​​yuan this month, up 13.89% month on month and up 61.65% year-on-year; boneless hind leg rose from 12.46 yuan to 14.40 yuan, up 15.51% from the previous month. , year-on-year increase of 78.39%; third-line meat rose from 11.70 yuan to 13.03 yuan, up 11.38%, an increase of 88.14%; the signature ribs rose from 14.75 yuan to 16.62 yuan, up 12.70%, an increase of 57.73%. The Municipal Price Bureau predicted that the high pork price will continue for some time.

Chen Shaoxing, a Chongqing Evening News reporter, partially reduced the price of pork in supermarkets by 1 yuan/kg. The price of pork was rising. There, the pork price war began. The Chongqing Evening News reporter learned from Yonghui Supermarket yesterday that although the price of pork in our city is still rising slightly, the price of pork in the supermarket has already been collectively reduced in price, and the price cut ranged from RMB 0.6 to RMB 1 per catty.

"Original price of 15.6 yuan / kg is now as long as 14.9 yuan / kg, the original price of 14.9 yuan / kg of fine forefinger now as long as 13.9 yuan / kg, the original price of 13.5 yuan / kg of the row is now as long as 12.9 yuan / kg "Deng Lianghui, an employee in the fresh food department of Yonghui Supermarket, said yesterday that although the purchase price of pork rose by 2 jins/kg last week, some pork prices in the store began to decrease.

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