中國PPI結束54個月連續下降態勢

Producer prices in China have risen for the first time in 54 months as consumer inflation picked up due to flood damage to key crops boosting food prices.

中國的工業生產者出廠價格指數(PPI)54個月來首次上升，而由於洪災對主要作物的損害推升了食品價格，居民消費價格出現上漲。

Factory gate prices rose 0.1 per cent year-on-year in September, according to the National Bureau of Statistics, the first growth reading since January 2012. That was up from a fall of 0.8 per cent the month prior, beating a median forecast from economists predicting a contraction of 0.3 per cent.

根據中國國家統計局發佈數據，9月份工業生產者出廠價格同比上漲0.1%，自2012年3月以來實現首次增長。該數字不但高於前一個月-0.8%的讀數，也高於經濟學家預測的-0.3%的中位數估值。

Month-on-month producer prices were up 0.5 per cent, up from 0.2 per cent in August.

9月份PPI環比上漲0.5%，高於8月份的0.2%。

The bureau attributed the rise to continued cuts to existing stocks and production capacity and prices in the ferrous metal smelting and pressing sectors rising 10.1 per cent and 1.2 per cent respectively, as well as a 4.1 per cent rise in prices for the coal extraction and washing industry.

國家統計局將這一增長歸因於持續的去庫存、去產能，以及黑色金屬冶煉和壓延加工、有色金屬冶煉和壓延加工業價格同比分別上漲10.1%和1.2%，和煤炭開採和洗選業價格同比上漲4.1%。

Consumer prices rebounded after dipping in August, rising to growth of 1.9 per cent year -on-year last month and beating expectations of 1.6 per cent growth. Pork prices, which exert major influence on the headline figure thanks to heavy weightings for food in the basket of goods used in its calculation, rose 5.8 per cent, contributing 0.16 percentage points to the topline figure – slightly less than the previous month as supply increased.

消費者價格指數(CPI)在8月份的下跌後出現反彈，9月份CPI同比上漲1.9%，高於1.6%的增長預期。由於供應增加，豬肉價格上漲5.8%，影響CPI上漲約0.16個百分點，略低於上個月。由於食品在CPI籃子中佔有很高權重，豬肉價格對CPI影響重大。

But vegetable prices rose 6.7 per cent, accelerating from a 6.4 per cent rise in August and helping push up food inflation to 2.7 per cent year-on-year, a rise of 1.2 percentage points from a month earlier.

但相較8月份鮮菜價格下降3.9%，9月份鮮菜價格上漲7.5%，幫助推動食品價格同比上升2.7%，環比增長1.2%。

In month-on-month terms prices were up 0.7 per cent compared to just 0.1 per cent in August. The statistics bureau pinned the blame partly on repeated typhoons and flooding that have hit south China since late June, ravaging crops and helping push monthly growth in vegetable prices up 10.7 per cent month-on-month in September.

9月份CPI環比上漲0.7%，而8月份環比上漲僅0.1%。國家統計局將部分原因歸結於6月下旬起華南地區不斷遭受颱風和洪災，對農作物造成破壞，推動9月份鮮菜價格環比上漲10.7%。