rouletteathome| The National Bureau of Statistics answers every question: Consumer prices rose steadily year-on-year in April, and CPI is expected to rebound moderately at a low level in the next stage.

Every reporter, Li Xuanzhang, every editor, Chen Xing.

May seventeenthRouletteathomeThe new office of the state council held a press conferenceRouletteathomeTo introduce the operation of the national economy in April 2024.

Liu Aihua, spokesman for the National Bureau of Statistics, chief economist and director of the National Economic Statistics Department, said at the press conference that in April, the national consumer price (CPI) rose 0% year on year.Rouletteathome.3%, an increase of 0% over the previous month.Rouletteathome.2 percentage points; up 0.1% from the previous month, down 1.0% last month.

In view of the characteristics of CPI in April, a reporter from the Daily Economic News asked at the press conference: in April, consumer demand continued to recover, and the national CPI increased from decline to increase compared with the same period last year. What is the reason for this? What are the predictions for the trend of CPI in the next stage?

Consumer demand is in a sustained recovery.

In response to a question from the Daily Business News, Liu Aihua said that in April, driven by consumer demand, especially service demand, consumer prices rose steadily from 0.1% last month to 0.3%, an increase of 0.2 percentage points.

Liu Aihua further said that the month-on-month change was more obvious, with the month-on-month increase changing from a 1 per cent decline last month to an increase of 0.1 per cent. What is most noteworthy is the expansion of core CPI year-on-year growth, with core CPI rising 0.7 per cent year-on-year in April, excluding food and energy prices, up 0.1 percentage point from the previous month, and 0.2 per cent higher than the previous month. Overall, whether in terms of year-on-year, month-on-month or core CPI changes, CPI changes are improving, indicating that consumer demand is continuing to recover.

In the next stage, judging from various factors, such as food prices, industrial consumer goods prices, and service prices, although food prices will remain seasonally low due to warmer weather and increased supply, industrial consumer goods and service prices are expected to pick up at a low level driven by a recovery in demand. Overall, CPI is expected to pick up moderately low.

The profit growth rate of industrial enterprises above scale has increased for three consecutive quarters compared with the same period last year.

In April, the growth of industrial production accelerated due to the continued coordinated efforts of macro policies and the acceleration of exports. In April, the added value of industries above scale increased by 6.7% year-on-year, 2.2 percentage points faster than the previous month, and increased by 0.97% month-on-month, the highest monthly growth rate in recent years.

Liu Aihua said that the industrial sector mainly shows the following characteristics:

First, the growth rates of the three major categories have all rebounded. Of this total, the added value of the mining industry increased by 2 percent, 1.8 percentage points faster than last month, and the manufacturing industry grew 7.5 percent, 2.4 percentage points faster. The production and supply of electricity, heat, gas and water increased by 5.8 per cent, or 0.9 percentage points.

Second, the growth rate of more than 80% of industries and nearly 60% of products has rebounded. In April, the growth rate of added value in 33 of the 41 major industrial industries was lower than that of the previous month, with a rebound of 80.5%. Among the 619 major industrial products, the output growth rate of 363 products rebounded or narrowed, with a rebound of 58.6%, or nearly 60%.

Third, the export of industrial products plays a leading role. Under the effect of a series of stable foreign trade policies, the delivery value of industrial exports continues to pick up, leading to the recovery of electronics, textiles and other industries that account for a relatively high proportion of exports, which is an important reason for the acceleration of industrial production. In April, the delivery value of industrial exports above scale increased by 7.3% compared with the same period last year, an increase of 5.9% over the previous month. Of the 39 major industries with exports, 31 have increased their exports, with a growth area of nearly 80%.

Fourth, the equipment manufacturing industry has rebounded by a large margin. In April, the added value of the above-scale equipment manufacturing industry increased by 9.9% compared with the same period last year, an increase of 3.9 percentage points over the previous month. Of this total, the added value of the automobile manufacturing industry increased by 16.3 percent, and the value added of the computer communications and other electronic equipment manufacturing industry increased by 15.6 percent. Among the related products, there is a relatively rapid growth, for example, the output of EMU increased by 212.5% year-on-year, that is, more than doubled; new energy vehicles increased by 39.2%, and 5G smartphones increased by 18.7%.

Fifth, the manufacturing industry of consumer goods has further recovered. In April, the consumer goods manufacturing industry grew 4.8% from a year earlier, 1.7 percentage points faster than the previous month. Of this total, the added value of the paper industry increased by 11.6%, chemical fiber by 11.3%, culture, education, labor and beauty by 9.5%, and the printing industry by 7.7%. In the field of consumer goods manufacturing, the growth rate of these industries is higher than the industrial average.

Liu Aihua said: in the next stage, the policy of large-scale upgrading of equipment in the industrial sector and the trade-in of consumer goods will free up more market space, and the vigorous development of information technology, digital technology, intelligent technology, and green technology will further help accelerate the cultivation and growth of new dynamic energy and strengthen the driving force of industrial development. At the same time, the confidence of business operators has also been increasing in the past two months, the manufacturing purchasing managers' index has been in the range of expansion for two consecutive months, and the profit growth rate of industrial enterprises above scale has increased for three consecutive quarters compared with the same period last year. These factors will form a strong support for the sustained recovery of the industrial economy.