Consumer Price Index for October 2024

2024-11-10 09:30 Print| Large| Medium| Small

In October 2024, the national consumer price index (CPI) increased by 0.3 percent year on year. Among them, the price in urban areas increased by 0.2 percent and the price in rural areas increased by 0.3 percent; the price for food increased by 2.9 percent, while for nonfood decreased by 0.3 percent; prices for consumer goods increased by 0.2 percent and for services increased by 0.4 percent. From January to October, on average, the national CPI increased by 0.3 percent over the same period last year.

In October, the national CPI decreased by 0.3 percent month on month. Among them, the price in urban areas decreased by 0.3 percent and the price in rural areas decreased by 0.3 percent; the price for food decreased by 1.2 percent, while for nonfood stood flat; prices for consumer goods decreased by 0.4 percent and for services were flat.

I. Year-on-Year Changes of Prices for Different Categories

In October, prices for food, tobacco and liquor increased by 2.0 percent year on year, affecting the CPI increased by about 0.56 percentage point. Among food categories, prices for fresh vegetables increased by 21.6 percent, affecting the CPI increased by about 0.44 percentage point; prices for fresh fruits increased by 4.7 percent, affecting the CPI increased by about 0.10 percentage point; the price for meat of livestock increased by 2.8 percent, affecting the CPI increased by about 0.08 percentage point, of which the price for pork increased by 14.2 percent, affecting the CPI increased by about 0.18 percentage point; prices for aquatic products increased by 1.4 percent, affecting the CPI increased by about 0.03 percentage point; prices for eggs decreased by 2.5 percent, affecting the CPI decreased by about 0.02 percentage point; the price for grain decreased by 0.7 percent, affecting the CPI decreased by about 0.01 percentage point.

Prices for other seven major categories increased five and decreased two year on year. Among them, prices for miscellaneous goods and services, clothing, and health care and medical services increased by 4.7, 1.1 and 1.1 percent respectively; prices for both education, culture and recreation, and household facilities, articles and services increased by 0.8 and 0.1 percent respectively; prices for transportation and telecommunication, and residence decreased by 4.8 and 0.1 percent respectively.

II. Month-on-Month Changes of Prices for Different Categories

In October, prices for food, tobacco and liquor decreased by 0.8 percent month on month, affecting the CPI decreased by about 0.22 percentage point. Among food categories, prices for fresh vegetables decreased by 3.0 percent, affecting the CPI decreased by about 0.08 percentage point; the price for meat of livestock decreased by 2.0 percent, affecting the CPI decreased by about 0.06 percentage point, of which the price for pork decreased by 3.7 percent, affecting the CPI decreased by about 0.06 percentage point; prices for aquatic products decreased by 2.0 percent, affecting the CPI decreased by about 0.04 percentage point; prices for eggs decreased by 2.0 percent, affecting the CPI decreased by about 0.01 percentage point; prices for fresh fruits decreased by 1.0 percent, affecting the CPI decreased by about 0.02 percentage point;

Prices for other seven major categories increased three, leveled three and decreased one month on month. Among them, prices for miscellaneous goods and services, education, culture and recreation, and household facilities, articles and services increased by 1.1, 0.2 and 0.1 percent respectively; prices for clothing, residence, and health care and medical services were all flat; the price for transportation and telecommunication decreased by 0.7 percent.

Consumer Price Index in October 2024

	Growth Rate M/M (%)	Growth Rate Y/Y (%)	Jan-Oct Growth Rate Y/Y (%)
Consumer Price Index	-0.3	0.3	0.3
Of which: Urban	-0.3	0.2	0.2
Rural	-0.3	0.3	0.3
Of which: Food	-1.2	2.9	-0.8
Non-food	0.0	-0.3	0.5
Of which: Consumer goods	-0.4	0.2	0.0
Services	0.0	0.4	0.7
Of which: Excluding food and energy	0.0	0.2	0.5
By commodity categories
I. Food, tobacco and liquor	-0.8	2.0	-0.2
Grain	0.0	-0.7	0.1
Edible oil and fats	-0.1	-3.8	-4.6
Fresh vegetables	-3.0	21.6	5.0
Meat of livestock	-2.0	2.8	-0.7
Of which: Pork	-3.7	14.2	6.6
Beef	-0.5	-13.4	-11.2
Mutton	-0.3	-5.9	-6.2
Aquatic products	-2.0	1.4	1.0
Eggs	-2.0	-2.5	-5.2
Milk and other dairy products	0.1	-1.7	-1.6
Fresh fruits	-1.0	4.7	-3.9
Cigarettes	0.0	0.7	1.1
Liquor	0.6	-1.4	-1.3
II. Clothing	0.0	1.1	1.5
Garments	0.1	1.4	1.7
Footwear	-0.2	0.0	0.6
III. Residence	0.0	-0.1	0.1
Rent of rental housing	-0.1	-0.3	-0.2
Water, electricity and fuels	0.1	0.3	0.6
IV. Household facilities, articles and services	0.1	0.1	0.7
Home appliances	-0.2	-3.3	-1.3
Household services	0.0	1.5	1.7
V. Transportation and telecommunication	-0.7	-4.8	-1.7
Transport facility	-0.2	-5.3	-5.2
Fuels for transport facility	-1.5	-10.5	0.4
Use and maintenance of transport facility	0.0	0.5	0.5
Communication facilities	0.4	-2.1	-2.2
Telecommunication services	0.0	0.0	-0.2
Postal services	0.0	-0.5	-0.4
VI. Education, culture and recreation	0.2	0.8	1.6
Education services	0.0	1.2	1.6
Touring	1.3	-0.4	4.2
VII. Health care and medical services	0.0	1.1	1.4
Traditional Chinese medicines	0.0	0.7	3.8
Western medicines	0.0	-0.9	-0.8
Medical services	0.0	1.8	1.8
VIII. Miscellaneous goods and services	1.1	4.7	3.6

Annotations:

1. Explanatory Notes

The consumer price index (CPI) is a relative number that measures changes in the price level of consumer goods and services over time, and comprehensively reflects changes in the price levels of consumer goods and services purchased by residents.

2. Statistical Coverage

The consumer price index (CPI) covers the prices of goods and services of 8 categories and 268 basic divisions which cover the living consumption of urban and rural residents, including food, tobacco and liquor; clothing; residence; household facilities, articles and services; transportation and telecommunication; education, culture and recreation; health care and medical services; miscellaneous goods and services.

3. Survey Methods

Sampling survey methodology is adopted to select and determine survey sites, and according to the principle of "fixed person, fixed point and fixed time", statisticians are directly sent to the survey sites or collect the original price from the Internet. The data comes from about 500 cities and counties in 31 provinces (autonomous regions and municipalities) and nearly 100,000 price survey points, including shopping malls (stores), supermarkets, farmers' markets, service outlets and internet e-commerce.

4. Data Description

Due to rounding-off, the aggregate data may be equal to the high or low value of the classified data.