National Bureau of Statistics: CPI slightly decreased year on year, mainly affected by the downward trend in international oil prices.

The National Bureau of Statistics stated that from a month-on-month perspective, the CPI has turned from a decrease to an increase, with the increase exceeding the seasonal level by 0.2 percentage points, mainly driven by the rise in food and travel services. Food prices rose by 0.2% compared to the previous month, which is higher than the seasonal level by 1.4 percentage points. The prices of fresh vegetables and pork decreased by 1.8% and 1.6% respectively, with both decreases smaller than the seasonal average. Due to the combined effects of demand recovery and holiday factors, the prices of travel services saw a significant increase. The prices of airplane tickets, rental fees for transportation, hotel accommodations, and tourism rose by 13.5%, 7.3%, 4.5%, and 3.1% respectively, all higher than the seasonal level, collectively contributing to a 0.10 percentage point increase in the CPI from the previous month. Due to changes in international gold prices, the prices of domestic gold jewelry rose by 10.1%, leading to a 0.06 percentage point increase in the CPI from the previous month.