8月份中国PPI降幅显著收窄 CPI涨幅低于预期

Factory gate prices in China fell the least since 2012 last month, signalling continued improvement in conditions for the country’s manufacturers as consumer prices rose less than expected.

上月，中国工业品出厂价格(PPI)出现自2012年以来的最低降幅，显示出中国制造业的状况继续好转，居民消费价格(CPI)涨幅则低于预期。

The official producer price index saw its softest fall since April 2012, contracting only 0.8 per cent year on year and performing markedly better than the drop of 1.8 per cent seen in July, according to the National Bureau of Statistics.

中国国家统计局数据显示，PPI同比仅下降0.8%，降幅为2012年4月以来最小，比7月份1.8%的降幅更是好得多。

The figure was largely in line with a median forecast of -0.9 per cent.

这一降幅与经济学家预期的降幅中值0.9%基本相符。

In month-on-month terms producer prices rose 0.2 per cent for the second month running.

环比来看，PPI上涨了0.2%，与7月份的涨幅相同。

The annualised contractions in the extraction and raw materials categories were the sharpest at levels of -3.2 per cent and -2.3 per cent, respectively.

采掘和原材料工业的价格同比降幅最大，分别为3.2%和2.3%。

But a headline figure for producer prices of daily necessities showed no change, neither rising nor falling as prices for food, clothing and daily necessities all saw expansion.

不过，生活资料总体价格没有变化、既未上涨也未下跌，其中，食品、衣着和一般日用品价格都有上涨。

In an explanatory note released alongside the new figures the statistics bureau noted a pronounced base effect from the previous year had helped drive producer prices falls to moderate in July and August.

在与新数据一同发布的解读中，中国国家统计局指出，7、8月份受去年基数较低影响收窄幅度较大。

Meanwhile the official consumer price index rose 1.3 per cent last month, down from 1.8 per cent in July. That was also 0.4 percentage points below a median forecast from economists.

上月的CPI同比上涨1.3%，涨幅低于7月份的1.8%，比经济学家的预期中值也低了0.4个百分点。

Pork prices rose 6.4 per cent year on year last month, adding 0.18 percentage points to the overall rise, or less than half their contribution in July.

上月猪肉价格同比上涨6.4%，为CPI总体上涨贡献0.18个百分点，不到7月份贡献值的一半。

Vegetable prices were down 3.9 per cent for the period, pushing down the headline figure by 0.9 percentage points.

鲜菜价格下跌3.9%，把CPI拉低了0.9个百分点。

That brought food inflation to 1.5 per cent, while prices in transport and communication were down 1.2 per cent year on year thanks to low core inflation (which strips out energy and food prices) of around 1.6 per cent.

受此影响，食品烟酒价格同比上涨1.5%。剔除能源和食品价格的核心通胀率较低，为1.6%；交通和通信价格同比下跌1.2%。

In month-on-month terms, meanwhile, consumer prices rose only 0.1 per cent, falling 0.5 percentage points from July.

环比来看，8月份CPI只上涨了0.1%，涨幅比7月份低了0.5个百分点。

The bureau noted vegetable prices were up 7.9 per cent at the end of August, but pork prices were down 1.2 per cent for the period.

鲜菜价格环比上涨7.9%，猪肉价格环比下跌1.2%。

In non-food goods, a drop in domestic oil prices helped push down expenses, though the cost of rent nationwide grew for the seventh month straight.

在非食品类的商品方面，国内油价的下滑帮助压低了开支，尽管全国房租价格连续第7个月上涨。