Yunnan's August CPI Turns Positive Month-on-Month

Deep News
Yesterday

Data from the Yunnan Survey Team of the National Bureau of Statistics reveals that in August 2026, Yunnan's Consumer Price Index (CPI) rose 0.4% month-on-month and 1.4% year-on-year. The core CPI, which excludes food and energy prices, increased 1.8% year-on-year, with the growth rate widening by 0.1 percentage points from the previous month.

On a monthly basis, the August CPI shifted from a 0.2% decline in July to a 0.4% increase. Food prices edged up 0.1%, unchanged from the previous month. Among food items, fresh vegetable prices climbed 2.0% due to rainy weather and higher transportation costs. Pork, beef, and lamb prices rose 1.2%, 0.8%, and 0.1% respectively, with pork marking its second consecutive monthly gain as the effects of comprehensive production capacity regulation policies became evident. Egg and aquatic product prices increased 0.4% and 0.3% respectively. Conversely, fresh fruit prices dropped 2.1% amid a seasonal surge in supply, poultry meat prices fell 0.3%, and grain prices remained flat.

Non-food prices swung from a 0.2% decline in July to a 0.5% increase in August. Energy prices reversed course, jumping from a 6.9% drop to a 4.5% rise, contributing approximately 0.24 percentage points to the CPI, with gasoline prices climbing 7.0%. Industrial consumer goods excluding energy saw prices rise 0.1%, adding about 0.03 percentage points to the CPI. Driven by higher raw material costs, prices for home security equipment, mobile phones, tablets, data storage devices, and computers increased 3.2%, 1.9%, 1.8%, 0.8%, and 0.6% respectively. Jewelry prices rose again after five consecutive months of decline, with gold ornaments and other accessories up 4.7% and 2.2%.

Service prices advanced 0.2%, contributing around 0.11 percentage points to the CPI. Reflecting robust summer tourism demand in Yunnan, airfares, vehicle rentals, travel agency and other tourism services, and hotel accommodation costs rose 8.9%, 6.9%, 4.0%, and 2.5% respectively.

Year-on-year, the CPI gained 1.4%, with the pace accelerating by 0.4 percentage points from the previous month. Food prices contracted 2.2%, dragging the CPI down by approximately 0.37 percentage points. Pork prices plummeted 14.2%, exerting a downward pressure of about 0.29 percentage points and serving as the primary driver of the food price decline. Prices for grains, tubers, beans, cooking oil, fresh vegetables, fresh fruits, and aquatic products fell between 0.1% and 5.9%. Meanwhile, egg, beef, chicken, and lamb prices rose 9.5%, 7.4%, 2.2%, and 1.2% respectively.

Non-food prices climbed 2.1%, with the growth rate widening by 0.5 percentage points from the prior month, adding roughly 1.73 percentage points to the CPI. Within non-food items, service prices increased 2.1%, contributing around 1.03 percentage points, as prices for medical services, education services, dining out, and household services rose 6.3%, 4.2%, 2.0%, and 1.3% respectively. Industrial consumer goods prices advanced 2.5%, contributing about 0.72 percentage points. Energy prices surged 6.5%, with the pace expanding by 5.2 percentage points from July, adding approximately 0.35 percentage points to the CPI, including a 10.1% jump in gasoline prices. Industrial consumer goods excluding energy rose 1.6%, contributing roughly 0.37 percentage points, with gold ornaments, cultural and entertainment durable goods, and communication tools seeing price increases of 30.2%, 10.2%, and 9.1% respectively.

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