Producer Prices in the Industrial Sector for October 2021
National Bureau of Statistics of China2021-11-11 09:30




In October 2021, Producer Price Index (PPI) for manufactured goods rose by 13.5 percent year-on-year and 2.5 percent month-on-month. The purchasing price index for manufactured goods increased by 17.1 percent year-on-year and 2.6 percent month-on-month. In the first ten months, on average, the producer price of industrial products increased by 7.3 percent over the same period last year, and the purchasing price of industrial products increased by 10.1 percent.

                                                                             

 

 

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

 

Among the PPI for manufactured goods, the year-on-year producer prices for means of production increased by 17.9 percent, affecting 13.36 percentage points increase in the overall level of producer price. Of which, producer prices for mining and quarrying industry, raw materials industry, manufacturing and processing industry increased by 66.5, 25.7 and 10.8 percent. Producer prices for consumer goods increased by 0.6 percent, meaning 0.15 percentage point increase in the overall price level. Of which, producer prices for foodstuff increased by 1.0 percent, and that of clothing and commodities both rose by 0.8 percent, while that of durable consumer goods decreased by 0.1 percent.

 

 

 

Among the purchaser price index, the year-on-year purchaser price indices for fuel and power, non-ferrous metal materials and wires, chemical raw materials and ferrous metal materials jumped by 40.7, 25.8, 24.9 and 22.6 percent respectively.

 

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

 

Among the PPI for manufactured goods, the prices for means of production went up by 3.3 percent month-on-month, affecting 2.51 percentage points increase 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 rose by 12.1, 4.4 and 1.8 percent. The prices of consumer goods increased by 0.1 percent, affecting 0.02 percentage point increase in the overall level of producer price. Of which, the producer prices for foodstuff grew by 0.2 percent, and that of clothing and commodities both increased by 0.3 percent, while that of durable consumer goods dropped by 0.2 percent.

 

The month-on-month purchaser price indices for fuel and power, chemical raw materials, non-ferrous metal materials and wire, respectively increased by 7.7, 4.4 and 2.4 percent, while that of ferrous metals materials decreased by 0.4 percent.

                                                                                          

Price Indexes for the Industrial Sector in October

 

 

M/M(%)

Y/Y(%)

Jan-Oct

Y/Y(%)

 

 

 

 

I. Producer Price Indices

2.5

13.5

7.3

Means of production

3.3

17.9

9.8

 Mining and quarrying

12.1

66.5

30.7

 Raw materials

4.4

25.7

14.5

 Processing

1.8

10.8

6.1

Means of subsistence

0.1

0.6

0.2

 Food

0.2

1.0

1.4

 Clothing

0.3

0.8

-0.5

 Articles for daily use

0.3

0.8

0.3

 Durable consumer goods

-0.2

-0.1

-0.8

II. Purchaser Price Indices

2.6

17.1

10.1

Fuel and Power

7.7

40.7

16.7

Ferrous Metals

-0.4

22.6

21.1

Non-ferrous Metal Materials and Wires

2.4

25.8

20.7

Chemical Raw Materials

4.4

24.9

13.5

Wood and Pulp

0.4

7.4

5.2

Building Materials and Non-metallic

6.1

13.5

3.8

Other Industrial Raw Materials and Semi-products

0.4

5.3

3.0

Agricultural and Sideline Products

-0.4

2.4

4.7

Textile Raw Materials

1.5

8.7

4.0

III. Producer Price Indices of Major Industries

 

 

 

Mining and Washing of Coal

20.1

103.7

38.3

Extraction of Petroleum and Natural Gas

6.0

59.7

35.1

Mining of Ferrous Metal Ores

-8.9

17.2

37.1

Mining of Non-Ferrous Metal Ores

0.6

12.7

13.2

Mining and Processing of Nonmetal Ores

1.4

5.3

2.4

Processing of Food from Agricultural Products

0.2

2.7

4.1

Manufacture of Foods

0.4

2.6

1.4

Manufacture of Wines, Beverage and Refined Tea

-0.3

1.2

1.7

Manufacture of Cigarettes and Tobacco

0.0

0.5

0.5

Manufacture of Textile

1.3

8.5

3.1

Manufacture of Textile Wearing Apparel and Ornament

0.4

0.8

-0.3

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

1.0

3.0

0.9

Manufacture of Paper and Paper Products

0.5

5.8

4.6

Printing, Reproduction of Recording Media

0.1

1.0

0.3

Processing of Petroleum, Coking, Processing of Nucleus Fuel

7.3

53.0

24.9

Manufacture of Chemical Raw Material and Chemical Products

6.1

31.5

17.6

Manufacture of Medicines

0.4

-0.5

-0.5

Manufacture of Chemical Fibers

3.5

27.0

15.1

Manufacture of Rubber and Plastics Products

1.3

5.8

2.7

Manufacture of Non-metallic Mineral Products

6.9

12.0

2.1

Manufacture and Processing of Ferrous Metals

3.5

39.9

29.0

Manufacture and Processing of Non-Ferrous Metals

3.6

29.5

22.6

Manufacture of Fabricated Metal Products

0.9

10.0

6.1

Manufacture of General- Purpose Machinery

0.4

2.7

1.2

Manufacture of Motor Vehicles

0.1

-0.1

-0.5

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

0.1

1.5

0.5

Manufacture of Computer, Communication Equipment and Other Electronic Equipment

0.1

1.6

-0.5

Production and Supply of Electric Power and Heat Power

0.5

0.8

-0.5

Production and Distribution of Gas

1.3

9.4

3.7

Production and Distribution of Water

0.2

1.5

1.1

 

 

 

 

 

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 factory price survey of industrial producers covers the prices of industrial products in 40 major industrial categories and more than 1300 basic categories; the purchase price survey of industrial producers covers the prices of industrial products in 9 major categories and more than 800 basic categories.

 

3. Survey Methods

 

The industrial producer price survey adopts the method of combining key survey with typical survey, involving more than 40000 industrial enterprises in China.

 

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.

 

6. Base Period Rotation

 

According to the provisions of the statistical system, China's industrial producer price statistical survey has a base period rotation every five years, and the price index with 2020 as the base period will be compiled and released from January 2021. Compared with the previous round of base period, the survey classification catalogue, representative specifications and survey enterprises in the new base period have been adjusted, and the classification weight has also changed to reflect the latest changes in the industrial production structure. It is estimated that the average impact of base period rotation on the year-on-year index of each month is about 0.05 percentage point, which is within the statistical acceptable range.

 

Annex
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