On September 12, the National Bureau of Statistics Yunnan Survey Team released data showing that Yunnan's Consumer Price Index (CPI) remained flat month-over-month in August while declining 0.4% year-over-year. The core CPI, excluding food and energy prices, rose 0.7% year-over-year, maintaining the same growth rate as the previous month and continuing a moderate recovery trend.

From a month-over-month perspective, CPI shifted from a 0.5% increase in the previous month to remaining flat. Food prices reversed from a 0.3% decline in the previous month to a 0.1% increase, contributing approximately 0.01 percentage points to CPI growth. Non-food prices shifted from a 0.6% increase in the previous month to remaining flat.

From a year-over-year perspective, CPI shifted from remaining flat in the previous month to declining 0.4%. Food prices fell 3.7%, with the decline widening by 2.6 percentage points compared to the previous month, contributing approximately 0.64 percentage points to the CPI decrease. Non-food prices rose 0.3%, with the growth rate expanding by 0.1 percentage points compared to the previous month, contributing approximately 0.28 percentage points to CPI growth.

According to calculations, in August's -0.4% year-over-year CPI change, the lagged impact of previous year's price changes accounted for approximately -0.8 percentage points, while the new impact of this year's price changes accounted for approximately 0.4 percentage points.

Regarding Producer Price Index (PPI) conditions, Yunnan's PPI declined 1.7% both month-over-month and year-over-year in August. The Purchase Price Index declined 2.0% month-over-month and rose 0.4% year-over-year. According to calculations, in August's -1.7% year-over-year PPI change, the lagged impact of previous year's price changes accounted for approximately 3.8 percentage points, while the new impact of this year's price changes accounted for approximately -5.5 percentage points.