Producer Prices for the Industrial Sector for February 2020
National Bureau of Statistics of China2020-03-11 09:30




In February 2020, Producer Price Index (PPI) for manufactured goods dropped by 0.4 percent year-on-year and 0.5 percent month-on-month. The purchasing price index for manufactured goods decreased by 0.5 percent year-on-year and 0.3 percent month-on-month. In the first two months, on average, the producer price index for manufactured goods decreased by 0.2 percent year-on-year, while that of the purchasing price index for manufactured goods decreased by 0.4 percent.

                                                                    

 

 

1. Year-on-Year Changes of Prices of Different Categories

 

Among the PPI for manufactured goods, the year-on-year change of producer prices for means of production decreased by 1.0 percent, and the pace of decline enlarged 0.6 percentage point than that of last month, affecting 0.74 percentage point decrease in the overall level of producer price. Of which, producer prices for mining and quarrying industry increased by 1.1 percent; that of raw materials industry decreased by 2.2 percent; that of manufacturing and processing industry fell by 0.7 percent. Producer prices for consumer goods increased by 1.4 percent year-on-year, and the growth rate enlarged 0.1 percentage point over the previous month, meaning 0.38 percentage point increase in the overall price level. Of which, producer prices for foodstuff increased by 5.1 percent, while that of clothing decreased by 0.3 percent, that of commodities rose by 0.1 percent, while that of durable consumer goods decreased by 2.0 percent.

 

 

 

Among the purchaser price index, the year-on-year purchaser price indices for agricultural and sideline products, building materials and non-metallic, and ferrous metal materials, jumped 7.6, 3.8 and 0.4 percent, while that of chemical raw materials, non-ferrous metal materials and wires, and fuel and power, decreased by 6.0, 1.2 and 1.0 percent respectively.

 

2. Month-on-Month Changes of Prices of Different Categories

 

Among the PPI for manufactured goods, the prices for means of production was down by 0.7 percent month-on-month, affecting 0.51 percentage point decrease in the overall level of producer price. Of the total, producer prices for mining and quarrying industry, raw materials industry and manufacturing and processing industry decreased by 2.3, 1.3 and 0.3 percent; that of consumer goods unchanged. Of which, the producer prices for foodstuff and clothing were both fell 0.1 percent, and that of commodities rose by 0.1 percent, while that of durable consumer goods went down by 0.2 percent.

 

The month-on-month purchaser price indices for agricultural and sideline products rose by 0.1 percent; that of fuel and power, non-ferrous metal and wires both dropped by 0.7 percent; and that of ferrous metals materials decreased by 0.4 percent.

                                                                                

Price Indexes for the Industrial Sector in February

 

 

M/M(%)

Y/Y(%)

Average on Jan-Feb

Y/Y(%)

 

 

 

 

I. Producer Price Indices

-0.5

-0.4

-0.2

Means of production

-0.7

-1.0

-0.7

 Mining and quarrying

-2.3

1.1

2.9

 Raw materials

-1.3

-2.2

-1.5

 Processing

-0.3

-0.7

-0.7

Means of subsistence

0.0

1.4

1.4

 Food

0.0

5.1

5.1

 Clothing

-0.1

-0.3

-0.3

 Articles for daily use

0.1

0.1

0.1

 Durable consumer goods

-0.2

-2.0

-2.1

II. Purchaser Price Indices

-0.3

-0.5

-0.4

Fuel and Power

-0.7

-1.0

-0.6

Ferrous Metals

-0.4

0.4

1.0

Non-ferrous Metal Materials and Wires

-0.7

-1.2

-1.0

Chemical Raw Materials

-0.5

-6.0

-6.1

Wood and Pulp

0.1

-2.7

-2.8

Building Materials and Non-metallic

-0.2

3.8

3.3

Other Industrial Raw Materials and Semi-products

-0.1

0.0

-0.1

Agricultural and Sideline Products

0.1

7.6

7.3

Textile Raw Materials

0.0

-2.8

-2.8

III. Producer Price Indices of Major Industries

 

 

 

Mining and Washing of Coal

0.0

-4.0

-4.1

Extraction of Petroleum and Natural Gas

-11.0

-0.4

8.4

Mining of Ferrous Metal Ores

0.0

7.0

8.0

Mining of Non-Ferrous Metal Ores

0.4

4.1

3.9

Mining and Processing of Nonmetal Ores

0.4

2.1

1.9

Processing of Food from Agricultural Products

0.2

7.4

7.3

Manufacture of Foods

-0.3

0.8

1.0

Manufacture of Wines, Beverage and Refined Tea

0.1

1.3

1.2

Manufacture of Cigarettes and Tobacco

0.0

2.9

2.9

Manufacture of Textile

-0.1

-3.0

-3.0

Manufacture of Textile Wearing Apparel and Ornament

-0.1

-0.5

-0.5

Processing of Timbers, Manufacture of Wood, Bamboo, Rattan, Palm, and Straw Products

-0.1

0.0

0.1

Manufacture of Paper and Paper Products

0.0

-2.9

-3.2

Printing, Reproduction of Recording Media

-0.2

-0.6

-0.6

Processing of Petroleum, Coking, Processing of Nucleus Fuel

-4.4

-0.8

1.9

Manufacture of Chemical Raw Material and Chemical Products

-0.5

-4.3

-4.3

Manufacture of Medicines

0.3

0.9

0.9

Manufacture of Chemical Fibers

-0.6

-10.7

-10.3

Manufacture of Rubber and Plastics Products

-0.2

-1.0

-1.1

Manufacture of Non-metallic Mineral Products

-0.3

0.5

0.3

Manufacture and Processing of Ferrous Metals

-1.4

-0.9

-0.1

Manufacture and Processing of Non-Ferrous Metals

-1.5

0.8

1.6

Manufacture of Fabricated Metal Products

-0.2

0.3

0.4

Manufacture of General- Purpose Machinery

0.0

0.3

0.4

Manufacture of Motor Vehicles

0.0

-0.5

-0.6

Manufacture of Railway Locomotives, Building of Ships and Boats, Manufacture of Air and Spacecrafts and Other Transportation Equipments

0.3

0.9

0.7

Manufacture of Computer, Communication Equipment and Other Electronic Equipment

-0.3

-2.0

-2.2

Production and Supply of Electric Power and Heat Power

-0.2

-1.1

-0.9

Production and Distribution of Gas

-1.1

-1.3

-0.9

Production and Distribution of Water

-0.1

0.9

1.0

 

 

 

 

 

Annotations:

 

1. Explanatory Notes

 

Producer Price Index for manufactured goods consists of producer price index and purchaser price index.

 

The industrial producer price index reflects the trend and level of prices change when the products are sold for the first time.

 

The industrial purchaser price index reflects the trend and level of prices change for the products purchased by the industrial enterprises as intermediate inputs.

 

2. Statistical Coverage

 

The statistical survey of industrial producer prices covers prices for over 20,000 products from 1638 subclasses; and the statistical surveys of industrial purchaser prices cover prices for over 10,000 industrial products from over 900 subclasses.

 

3. Survey Methods

 

Industrial producer prices are collected from combined surveys of key businesses and typical businesses. The key businesses are those with their annual revenue from principal activities over 20 million yuan, and the typical businesses are those with less than 20 million yuan. The surveys cover about 50,000 industrial enterprises in over 400 cities across the country.

 

4. Statistical Standard

 

Industrial Classification is based on the “Industrial Classification for National Economic Activities” (GB/T4754-2017).

 

5. Data Description

 

Due to "rounding-off", sometimes the aggregate data is the same as the high or low value of the classified data.

 

Annex
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