CCTV News: Data released by the National Bureau of Statistics on February 9 showed that due to the Spring Festival factors, the national consumer price index (CPI) rose 0.5% year-on-year and 0.7% month-on-month, both of which increased from the previous month.

In January, the CPI increase expanded, from the same month to the same month to the same month, and the year-on-year increase expanded from 0.1% last month to 0.5%. From a month-on-month perspective, rising service and food prices are the main factors affecting the month-on-month increase in CPI. Among the services, the demand for travel and entertainment consumption increased significantly during the Spring Festival, and the prices of air tickets and transportation rental fees, tourism, movies and performance tickets rose by 27.8%, 16.0%, 11.6% and 9.6% respectively; affected by the return of migrant workers and the increase in service demand, the prices of housekeeping services and hair salons rose. In terms of food, due to the influence of Spring Festival factors and the decline in temperature, the prices of fresh vegetables, fresh fruits and aquatic products have all risen. In addition, affected by the rise in international gold and crude oil prices, domestic gold jewelry and gasoline prices have also risen.

From a year-on-year perspective, the prices of services and food have increased significantly due to the Spring Festival's mismatched month. In addition, the rebound in gasoline prices have collectively affected the year-on-year increase of CPI.

Zhang Xuewu, director of the Analysis and Forecasting Department of the Price Monitoring Center of the National Development and Reform Commission, said that from a year-on-year perspective, CPI continued to rise in a moderate trend, with the year-on-year increase expanding compared with last month. The prices of daily necessities and services, including the eight major categories of goods and services, and the prices of transportation and communications, fell slightly year-on-year, while the prices of the other six major categories of goods and services, all rose year-on-year.

In addition, in January, due to factors such as the Spring Festival holiday, industrial production was in the off-season, and the national industrial producer price index (PPI) fell by 0.2% month-on-month and 2.3% year-on-year.