According to the China Galaxy Securities Research Report, CPI is expected to maintain a moderate upward trend during the year, mainly due to improvements in leading factors. The CPI is expected to rise to around 1% year-on-year in the fourth quarter. On the one hand, pig prices fluctuated in the fourth quarter, and the probability of a sharp drop is small; on the other hand, insufficient release of consumer momentum and low PPI inhibited the moderate upward trend in core CPI. Since the end of September, favorable macroeconomic policies have been frequent, boosting market confidence, but it will still take time for the effects of the policy to spread to fundamental improvements. The year-on-year decline in PPI is expected to narrow. The PPI center for the fourth quarter is expected to be around -2% year-on-year. On the one hand, international crude oil prices are expected to remain low; on the other hand, increased policies are expected to drive industrial product prices back up, but the conflict between supply and demand will limit the extent of the recovery.

According to the China Galaxy Securities Research Report, CPI is expected to maintain a moderate upward trend during the year, mainly due to improvements in leading factors. The CPI is expected to rise to around 1% year-on-year in the fourth quarter. On the one hand, pig prices fluctuated in the fourth quarter, and the probability of a sharp drop is small; on the other hand, insufficient release of consumer momentum and low PPI inhibited the moderate upward trend in core CPI. Since the end of September, favorable macroeconomic policies have been frequent, boosting market confidence, but it will still take time for the effects of the policy to spread to fundamental improvements. The year-on-year decline in PPI is expected to narrow. The PPI center for the fourth quarter is expected to be around -2% year-on-year. On the one hand, international crude oil prices are expected to remain low; on the other hand, increased policies are expected to drive industrial product prices back up, but the conflict between supply and demand will limit the extent of the recovery.