2025年4月,中国消费者价格指数同比下降0.1%,连续第二个月保持不变,与市场预期相符。这标志着消费者连续第三个月出现通货紧缩,美国的高额关税加剧了国内需求疲软对价格的下行压力。受新鲜食品成本大幅反弹的推动,食品价格出现了三个月来最小的跌幅。与此同时,非食品价格在3月份上涨0.2%后持平,因为住房(0.1%对0.1%)、医疗保健(0.2%对0.1%)和教育(0.7%对0.8%)的上涨被运输成本的大幅下降(-3.9%对-2.6%)所抵消。按月计算,CPI小幅上涨0.1%,扭转了3月份0.4%的下降趋势,创下三个月来的首次上涨。
China's consumer prices dropped by 0.1% year-on-year in April 2025, keeping the same pace for the second straight month and matching market expectations. It marked the third consecutive month of consumer deflation, with steep US tariffs adding to the downward pressure on prices from weak domestic demand. Food prices posted the smallest decline in three months, driven by a sharp rebound in fresh food costs. Meanwhile, non-food prices were flat after a 0.2% rise in March, as increases in housing (0.1% vs 0.1%), healthcare (0.2% vs 0.1%), and education (0.7% vs 0.8%) were offset by a sharper drop in transport costs (-3.9% vs -2.6%). On a monthly basis, the CPI edged up 0.1%, reversing a 0.4% decline in March and recording the first increase in three months.