大消费行业周报:8月消费市场运行总体平稳 核心CPI继续回升

平安证券
Sep 15, 2025

本周观点大消费行业周观点:8月消费市场运行总体平稳,核心CPI继续回升。本周大消费各子版块中,除消费者服务外均实现正增长,主要得益于整体市场环境与资金面驱动。根据国家统计局,8月全国居民消费价格指数(CPI)环比持平,同比下降0.4%,主要是上年同期对比基数走高,叠加食品价格涨幅低于季节性水平所致。随着扩内需促消费政策持续显效,核心CPI同比上涨0.9%,涨幅连续第4个月扩大。扣除能源的工业消费品...

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