Research On The Reason Of Deviation Of CPI And PPI Under The New Economic Norm

In 2012,China's economy has entered a new norm,the domestic economy has shown new changes,CPI and PPI trend show a long positive and negative departure from the phenomenon.Moreover,the gap between CPI and PPI is close to the historical maximum,these new economic problems make that the traditional fiscal policy and monetary policy encounter meet great challenges,in-depth study of the reasons for the departure has significant meaning.Firstly,this article describes the relevant literature at home and abroad.Secondly,the analysis of China's CPI and PPI new changes in the characteristics of: CPI and PPI trend of a long positive and negative departure,and away from the gap close to the historical maximum,CPI and PPI crest,trough position roughly corresponding to each other.Thirdly,we analyze the mechanism of Chinese CPI and PPI departure from the new normal state.From the internal factors and external factors on the two aspects of China's CPI and PPI different narrative.Then,from January 2012 to November 2016 data,from the perspective of price transmission mechanism differences between the two reasons.This paper shows that the heavy commodity prices in the heavy industry sector,the decline in international commodity prices,the price of industrial products,the transmission of PPI is an important reason for the decline;CPI and PPI weak transfer between the premise of departure and labor costs.The transmission of food and service prices is an important reason for the rise in CPI.Finally,according to the empirical results,the countermeasures are put forward.From the structural fiscal policy and monetary policy two aspects,the supply side of the structural reform and the use of reasonable means of macro-control are the fundamental solution to the problem.