The consumer price of the residents nationwide dropped by 0.7 percent from last year's same period, showing a trend of slight increase while remaining stable.

一季度全国居民消费价格总水平同比上涨0.7%，呈现出平稳并略有上涨的势头。

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In the meantime, the "dual ratchet effect" of consumer demand and price level triggers stable rise in real consumer demand, and the "wealth effect" strengthens the trend.

同时，消费需求与物价水平的“双棘轮效应”促使实际消费需求稳步增长，“财富效应”强化了消费需求增长趋势。

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