经济持续复苏,价格稳中有降——2020年二季度价格形势及展望

Economy Continues to Recover and Prices have Stabilized and Declined:Price Situation and Outlook for the Second Quarter of 2020

2020年4、5月份,国内疫情形势逐步稳定,复工复产、复市复业有序推进,市场供需状况均有所好转,价格总体稳中有降。当前多数工业行业需求端复苏力度弱于生产端,加之4、5月份国际原油等国际大宗商品价格整体下行,工业生产者出厂价格降幅扩大。预计下半年我国总需求将逐步改善,对物价企稳形成支撑。以国际原油为代表的大宗商品价格将在相对低位呈震荡态势,但对PPI拖累作用减弱;基建、房地产投资需求恢复,带动工业品价格企稳回升PPI同比跌幅逐渐收窄。

In April and May 2020,the domestic epidemic situation has gradually stabilized,and the resumption of work and production,and the resumption of business in an orderly manner,the market supply and demand conditions have improved,and prices have generally stabilized and declined.At present,the demand side recovery of most industrial sectors is weaker than that on the production side.Coupled with the overall decline in the prices of international crude oil and other international commodities in April and May,the ex-factory prices of industrial producers have fallen more.It is expected that my country’s total demand will gradually improve in the second half of the year,supporting the stabilization of prices.The prices of bulk commodities represented by international crude oil will fluctuate at a relatively low level,but the drag on PPI will weaken;the recovery of infrastructure and real estate investment demand will drive the price of industrial products to stabilize and rise.PPI’s year-on-year decline gradually narrows.