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What is the consumer price index?
CPI is the abbreviation of consumer price index. Consumer price index (CPI) is a macroeconomic indicator that reflects the changes in the price levels of consumer goods and services generally purchased by households. It is a relative number to measure the price level of a representative group of consumer goods and services that changes with time in a specific period, and is used to reflect the changes in the price level of consumer goods and services purchased by households.

Consumer price statistics survey the final price of social products and services, which is closely related to people's lives and occupies an important position in the whole national economic price system. It is an important indicator of economic analysis and decision-making, monitoring and regulation of the overall price level and national economic accounting. Its change rate reflects the degree of inflation or deflation to some extent. Generally speaking, inflation is considered to occur when prices rise in an all-round way, in contrast to changes, and it continues.

September 15, 10 The consumer price CPI announced by the National Bureau of Statistics in August increased by 2.0% year-on-year, but the ex-factory price PPI announced at the same time decreased by 5.9% year-on-year, which exceeded expectations and hit a six-year low. There is no doubt that the 42nd month is in a negative growth range. The difference between CPI and PPI reached 7.9 percentage points, the largest difference since 1994. The deviation between CPI and PPI tests the wisdom of macro-control. A basic judgment of the industry is that the deflation risk faced by China's economy is greater than the inflation risk, and it needs monetary and other regulatory measures to continue to relax. And the central bank and other departments have also stated that they will not affect the judgment of the overall price level because of the price trend of a single commodity.

Compilation purpose:

CPI is an important macroeconomic indicator reflecting the changes in the price level of consumer goods and services related to residents' lives, and it is also an important indicator for macroeconomic analysis and decision-making and national economic accounting. Generally speaking, the level of CPI directly affects the introduction and intensity of national macro-control measures, such as whether the central bank adjusts interest rates and deposit reserve ratio. At the same time, the level of CPI also indirectly affects the changes of capital markets (such as stock market, futures market, capital market and financial market).

The purpose of compiling consumer price index is to understand the basic situation of price changes all over the country, analyze and study the impact of price changes on social economy and residents' life, meet the needs of governments at all levels to formulate policies and plans and carry out macro-control, and provide reference and basis for national economic accounting.

The combination of consumer price index (CPI) and employment situation report (non-agricultural) has become another hot economic indicator that has been carefully studied in the financial market, because inflation affects everyone, it determines the cost of consumers to buy goods and services, affects the operating costs of enterprises, greatly damages the investment of individuals or enterprises, and affects the quality of life of retirees. Moreover, the prospect of inflation is conducive to the establishment of labor contracts and the formulation of government fiscal policies.

Consumer price index measures the average change of retail prices of more than 200 kinds of goods and services over a period of time. These more than 200 kinds of goods and services are divided into 8 categories. When calculating the consumer price index, each category has a weight that can show its importance. These weights are determined by investigating the products and services purchased by thousands of families and individuals. The weights are revised every two years to make them conform to people's changing preferences.

References:

Baidu Encyclopedia-Consumer Price Index