In March 2023, China’s Producer Price Index (PPI) for manufactured goods decreased by 2.5 percent year-on-year and remained unchanged month-on-month. The purchasing price of industrial products also decreased by 1.8 percent year-on-year and was unchanged month-on-month. The price of means of production, including mining, raw materials, and processing, decreased, affecting the overall level of the producer price of industrial products. However, the price of means of livelihood, including food, clothing, and general commodities, increased slightly.
In the first quarter of 2023, the producer price of industrial products decreased by 1.6 percent compared to the same period last year, and the purchasing price of industrial products decreased by 0.8 percent. Among the different categories, the price of fuel and power decreased, while the prices of agricultural and sideline products increased.
This data is important as it provides insights into inflation and economic trends in China’s industrial sector. Lower producer prices may indicate reduced profitability for manufacturers, while lower purchasing prices may impact suppliers’ revenues. The changes in prices for different categories of goods can also reflect shifts in supply and demand dynamics in various industries. Overall, the Producer Price Index in the Industrial Sector for March 2023 suggests a decline in prices for manufactured goods and industrial products in China.
http://www.stats.gov.cn/english/PressRelease/202304/t20230413_1938598.html