The National Bureau of Statistics of China has released the data for the Producer Price Index (PPI) in the industrial sector for June 2023. The report reveals a year-on-year decrease of 5.4 percent in the PPI for manufactured goods and a month-on-month drop of 0.8 percent. Additionally, the purchasing prices for industrial producers experienced a year-on-year decline of 6.5 percent and a month-on-month decrease of 1.1 percent. In the first half of 2023, the producer prices for industrial products decreased by 3.1 percent compared to the same period last year, while the purchasing prices for industrial producers dropped by 3.0 percent.
- Year-on-Year Changes in Prices for Different Categories in June
The price of means of production witnessed a decline of 6.8 percent, contributing to an overall decrease of approximately 5.26 percentage points in the producer prices for industrial products. This category includes a 16.2 percent decrease in the mining industry, a 9.5 percent decrease in the raw material industry, and a 4.7 percent decrease in the processing industry. The price of means of livelihood, which comprises food, clothing, general commodities, and durable consumer goods, decreased by 0.5 percent, affecting the overall level of producer prices by approximately 0.17 percentage point.
- Month-on-Month Changes in Prices for Different Categories in June
On a monthly basis, the price of means of production declined by 1.1 percent, leading to an overall decrease of about 0.78 percentage point in the producer prices for industrial products. The mining industry experienced a 3.5 percent decrease, the raw materials industry witnessed a 1.6 percent decrease, and the processing industry saw a 0.6 percent decrease. The price of means of livelihood decreased by 0.2 percent, impacting the overall level of producer prices by about 0.04 percentage point. Food prices decreased by 0.2 percent, clothing prices increased by 0.3 percent, general commodity prices increased by 0.1 percent, and durable consumer goods prices decreased by 0.4 percent.
Among the purchasing prices for industrial producers, there were significant declines in the prices of raw chemical materials (13.0 percent), ferrous metal materials (11.2 percent), fuel and power (11.1 percent), building materials and non-metallic materials (5.5 percent), non-ferrous metal materials and wires (4.9 percent), and agricultural and sideline products (3.6 percent). However, the price of raw textile materials increased by 0.3 percent.
The data reflects the Price Indexes for the Industrial Sector in June 2023, illustrating the year-on-year and month-on-month changes in various categories. The report provides valuable insights into the current trends in China’s industrial sector, emphasizing the price dynamics of different products and materials.
http://www.stats.gov.cn/english/PressRelease/202307/t20230712_1941200.html