中国CPI与PPI变动关系分析

Analysis on the relationship between China＇s CPI and PPI changes

我国CPI和PP睫势持续偏离，且偏离程度明显大于其他国家。其原因在于上游产能过剩严重、PPI受输入型通缩影响更大、受劳动力成本上升影响较小等因素。2013年以来，cPl和PPI走势主要受部分商品价格变动影响，物价变动既有供给原因，也有结构性需求不足的因素，应综合施策，两端发力。

China＇s CPI and PPI continue to deviate from each other, with the deviation obviously larger than that in other countries.The reason lies in the severe overcapacity of upstream production and the fact that PPI is more affected by imported deflation and less affected by labor cost increase. Since 2013, the movements of CPI and PPI have been mainly driven by the changes in the prices of some commodities, which attribute to both supply factor and the structural insufficient demand, so it＇s necessary to take comprehensive measures from these two ends.