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尽管今年前2个月CPI变动受节日因素影响较大,但通过对CPI进行季节调整,以及观察季节性因素较弱的PPI走势,当前CPI仍延续了去年8月份以来的回落走势。尽管受国际大宗商品价格影响近期PPI环比由跌转升,但升幅仍远低于历史平均水平,显示以生产资料为主的PPI变化与当前经济减速以及货币流动性下降更具一致性。展望2-4季度价格走势,在经济放缓、食品供给好转、房价继续调整以及货币需求意愿逐渐减弱等因素的综合作用下,物价仍将随总需求放缓延续下行走势。与此同时,在全球
Although the CPI change in the first two months of this year was greatly affected by the holiday factors, the current CPI continued its downward trend since August last year through the seasonal adjustment of the CPI and the observation of the trend of the PPI with weak seasonal factors. Although the recent PPI rose by a drop from the impact of international commodity prices, the increase was still far below the historical average, indicating that changes in PPI based on means of production are more consistent with the current economic slowdown and declining currency liquidity. Looking ahead to the 2-4 quarterly price trend, under the combined effects of the economic slowdown, improving food supply, continued housing price adjustments, and weakening demand for money, factors will continue to slow down as the aggregate demand continues. At the same time, in the world