Producer Prices for the Industrial Sector for December 2020
In December 2020, Producer Price Index (PPI) for manufactured goods dropped by 0.4 percent year-on-year and rose by 1.1 percent month-on-month. The purchasing price index for manufactured goods unchanged year-on-year and increased by 1.5 percent month-on-month. In 2020, the producer price index for manufactured goods decreased by 1.8 percent, and the purchasing price index for manufactured goods decreased by 2.3 percent over last year.
1. Year-on-Year Changes of Prices of Different Categories
Among the PPI for manufactured goods, the price of means of production decreased by 0.5 percent, 1.3 percentage points lower than that of last month, which affected the overall level of factory price of industrial producers to decrease by about 0.33 percentage point. Among them, the price of mining industry decreased by 0.4 percent, the price of raw material industry decreased by 1.6 percent, and the price of processing industry remained unchanged. The price of means of living decreased by 0.4 percent, 0.4 percentage point lower than that of the previous month, which affected the overall level of factory prices of industrial producers by about 0.11 percentage point. Among them, food prices rose by 0.9 percent, clothing and durable consumer goods prices fell by 1.8 percent, and general commodity prices fell by 0.4 percent.
Among the purchaser price index, the prices of non-ferrous metal materials and wires increased by 7.5 percent, the prices of ferrous metal materials increased by 6.1 percent, the prices of fuel and power decreased by 6.6 percent, and the prices of chemical raw materials decreased by 1.8 percent.
2. Month-on-Month Changes of Prices of Different Categories
Among the PPI for manufactured goods, the price of means of production rose by 1.4 percent, 0.7 percentage point higher than that of last month, which affected the overall level of producer prices to rise by about 1.05 percentage points. Among them, the price of mining industry increased by 3.3 percent, that of raw material industry increased by 2.6 percent, and that of processing industry increased by 0.8 percent. The price of means of living rose by 0.1 percent, the same as that of last month, which affected the rise of the total producer prices by about 0.04 percentage point. Among them, the price of food increased by 0.5 percent, the price of clothing decreased by 0.2 percent, the price of general daily necessities remained unchanged, and the price of durable consumer goods decreased by 0.3 percent.
The month-on-month purchaser price indices for non-ferrous metal materials and wires, ferrous metals materials, fuel and power, and chemical raw materials, respectively increased by 3.3, 2.6, 2.2 and 2.1 percent.
Price Indexes for the Industrial Sector in December
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| M/M(%) | Y/Y(%) | Average on Jan-Dec Y/Y(%) | |
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| I. Producer Price Indices | 1.1 | -0.4 | -1.8 |
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| Means of production | 1.4 | -0.5 | -2.7 |
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| Mining and quarrying | 3.3 | -0.4 | -5.2 |
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| Raw materials | 2.6 | -1.6 | -5.6 |
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| Processing | 0.8 | 0.0 | -1.3 |
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| Means of subsistence | 0.1 | -0.4 | 0.5 |
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| Food | 0.5 | 0.9 | 2.9 |
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| Clothing | -0.2 | -1.8 | -1.0 |
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| Articles for daily use | 0.0 | -0.4 | -0.3 |
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| Durable consumer goods | -0.3 | -1.8 | -1.8 |
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| II. Purchaser Price Indices | 1.5 | 0.0 | -2.3 |
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| Fuel and Power | 2.2 | -6.6 | -8.4 |
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| Ferrous Metals | 2.6 | 6.1 | 0.5 |
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| Non-ferrous Metal Materials and Wires | 3.3 | 7.5 | -0.2 |
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| Chemical Raw Materials | 2.1 | -1.8 | -7.3 |
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| Wood and Pulp | 0.0 | -0.9 | -1.9 |
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| Building Materials and Non-metallic | 0.8 | -1.1 | 0.5 |
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| Other Industrial Raw Materials and Semi-products | 0.5 | 0.5 | -0.1 |
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| Agricultural and Sideline Products | 1.6 | 4.0 | 5.4 |
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| Textile Raw Materials | 0.4 | -1.5 | -3.2 |
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| III. Producer Price Indices of Major Industries |
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| Mining and Washing of Coal | 3.5 | 1.3 | -5.4 |
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| Extraction of Petroleum and Natural Gas | 7.9 | -27.0 | -27.4 |
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| Mining of Ferrous Metal Ores | 3.3 | 17.8 | 7.0 |
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| Mining of Non-Ferrous Metal Ores | 0.7 | 8.6 | 4.8 |
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| Mining and Processing of Nonmetal Ores | 0.3 | 1.9 | 1.5 |
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| Processing of Food from Agricultural Products | 1.0 | 2.4 | 4.8 |
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| Manufacture of Foods | 0.0 | 0.5 | 0.6 |
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| Manufacture of Wines, Beverage and Refined Tea | 0.2 | 0.8 | 0.7 |
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| Manufacture of Cigarettes and Tobacco | 0.0 | 0.8 | 1.4 |
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| Manufacture of Textile | 0.2 | -3.8 | -4.7 |
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| Manufacture of Textile Wearing Apparel and Ornament | 0.0 | -1.5 | -1.2 |
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| Processing of Timbers, Manufacture of Wood, Bamboo, Rattan, Palm, and Straw Products | 0.2 | -0.8 | -0.7 |
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| Manufacture of Paper and Paper Products | 0.2 | -1.5 | -2.8 |
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| Printing, Reproduction of Recording Media | 0.0 | -2.1 | -1.3 |
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| Processing of Petroleum, Coking, Processing of Nucleus Fuel | 5.3 | -12.5 | -14.3 |
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| Manufacture of Chemical Raw Material and Chemical Products | 2.3 | 0.0 | -5.9 |
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| Manufacture of Medicines | 0.1 | 0.5 | 0.6 |
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| Manufacture of Chemical Fibers | 1.5 | -8.2 | -13.5 |
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| Manufacture of Rubber and Plastics Products | 0.8 | -1.0 | -1.9 |
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| Manufacture of Non-metallic Mineral Products | 0.4 | -2.7 | -1.6 |
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| Manufacture and Processing of Ferrous Metals | 3.3 | 5.0 | -2.1 |
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| Manufacture and Processing of Non-Ferrous Metals | 3.9 | 8.3 | 0.8 |
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| Manufacture of Fabricated Metal Products | 0.6 | 0.5 | -0.1 |
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| Manufacture of General- Purpose Machinery | 0.0 | -0.7 | -0.3 |
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| Manufacture of Motor Vehicles | -0.2 | -0.4 | -0.4 |
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| Manufacture of Railway Locomotives, Building of Ships and Boats, Manufacture of Air and Spacecrafts and Other Transportation Equipments | 0.0 | -0.1 | 0.4 |
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| Manufacture of Computer, Communication Equipment and Other Electronic Equipment | -0.1 | -2.0 | -1.5 |
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| Production and Supply of Electric Power and Heat Power | 0.7 | -1.4 | -1.9 |
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| Production and Distribution of Gas | 4.1 | -2.1 | -4.3 |
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| Production and Distribution of Water | 0.0 | -0.1 | 0.1 |
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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 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.