National Bureau of Statistics: The core CPI excluding food and energy prices rose 0.3% month-on-month in January, reaching a nearly six-month high

Dong Lijuan, Chief Statistician of the Urban Division of the National Bureau of Statistics, interpreted the CPI and PPI data for January 2026, stating that resident consumption demand continues to recover, and the trend of a moderate increase in core CPI has not changed. Among them, the core CPI continued to rise month-on-month in January. The core CPI, excluding food and energy prices, rose by 0.3% month-on-month, the highest in nearly six months, and increased by 0.8% year-on-year. Specifically, the prices of airline tickets and travel agency fees rose by 5.7% and 2% month-on-month, respectively; the price increases for housekeeping services, hairdressing, movie tickets, and performance tickets ranged from 0.4% to 2.8%; the prices of data storage devices and computers rose by 8% and 2.6%, respectively; the price increases for household appliances, daily household goods, and personal care products ranged from 0.7% to 1.4%.

Dong Lijuan pointed out that the year-on-year increase in January has decreased due to the impact of the Spring Festival falling in a different month. January of last year was the month of the Spring Festival, during which food and some service prices rose significantly, resulting in a higher comparison base for the same period last year, leading to a more significant decline in the year-on-year increase this month