Producer Price Index in the Industrial Sector for June 2023

National Bureau of Statistics of China 2023-07-11 09:30 Print| Large| Medium| Small

In June 2023, Producer Price Index (PPI) for manufactured goods decreased by 5.4 percent year-on-year and dropped by 0.8 percent month-on-month; the purchasing prices for industrial producers decreased by 6.5 percent year-on-year and dropped by 1.1 percent month-on-month. In the first half of 2023, the producer prices for industrial products decreased by 3.1 percent over the same period last year, and the purchasing prices for industrial producers decreased by 3.0 percent.

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

Among the producer prices for industrial products, the price of means of production decreased by 6.8 percent, affecting the overall level of producer prices for industrial products decreased by about 5.26 percentage points. Among them, the price of the mining industry decreased by 16.2 percent, the price of the raw material industry decreased by 9.5 percent, and the price of the processing industry decreased by 4.7 percent. The price of means of livelihood decreased by 0.5 percent, affecting the overall level of producer prices for industrial products decreased by about 0.17 percentage point. Among them, the food prices decreased by 0.6 percent, the clothing prices increased by 1.0 percent, the general commodity prices increased by 0.3 percent, and the durable consumer goods prices decreased by 1.5 percent.

Among the purchasing prices for industrial producers, the price of raw chemical materials decreased by 13.0 percent, the price of ferrous metal materials decreased by 11.2 percent, the price of fuel and power decreased by 11.1 percent, the price of building materials and non-metallic decreased by 5.5 percent, the price of non-ferrous metal materials and wires decreased by 4.9 percent, and the price of agricultural and sideline products decreased by 3.6 percent.

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

Among the producer prices for industrial products, the price of means of production decreased by 1.1 percent, affecting the overall level of producer prices for industrial products decreased by about 0.78 percentage point. Among them, the price of mining industry decreased by 3.5 percent, the price of raw materials industry decreased by 1.6 percent, and the price of processing industry decreased by 0.6 percent. The price of means of livelihood decreased by 0.2 percent, affecting the overall level of producer prices for industrial products decreased by about 0.04 percentage point. Among them, the food prices decreased by 0.2 percent, the clothing prices increased by 0.3 percent, the general commodity prices increased by 0.1 percent, and the durable consumer goods prices decreased by 0.4 percent.

Among the purchasing prices for industrial producers, the price of fuel and power decreased by 2.8 percent, the price of raw chemical materials decreased by 2.0 percent, the price of building materials and non-metallic decreased by 1.6 percent, the price of ferrous metal materials decreased by 1.3 percent, the price of agricultural and sideline products decreased by 1.0 percent, and the price of non-ferrous metal materials and wires decreased by 0.5 percent; and the price of raw textile materials increased by 0.3 percent.

Price Indexes for the Industrial Sector in June 2023

	M/M (%)	Y/Y (%)	Jan-Jun Y/Y (%)
I. Producer Price Indexes	-0.8	-5.4	-3.1
Means of production	-1.1	-6.8	-4.1
Mining	-3.5	-16.2	-6.6
Raw materials	-1.6	-9.5	-5.0
Processing	-0.6	-4.7	-3.4
Means of livelihood	-0.2	-0.5	0.6
Food	-0.2	-0.6	1.3
Clothing	0.3	1.0	1.6
General commodity	0.1	0.3	0.6
Durable consumer goods	-0.4	-1.5	-0.6
II. Purchasing Price Indexes	-1.1	-6.5	-3.0
Fuel and power	-2.8	-11.1	-2.2
Ferrous metal materials	-1.3	-11.2	-8.9
Non-ferrous metal materials and wires	-0.5	-4.9	-3.7
Raw chemical materials	-2.0	-13.0	-8.4
Wood and pulp	-1.2	-4.4	0.6
Building materials and non-metallic	-1.6	-5.5	-5.0
Other industrial raw materials and semi-products	-0.2	-2.1	-0.9
Agricultural and sideline products	-1.0	-3.6	1.5
Raw textile materials	0.3	-4.9	-4.5
III. Producer Price Indexes of Major Industries
Mining and washing of coal	-6.4	-19.3	-7.4
Extraction of petroleum and natural gas	-1.6	-25.6	-13.5
Mining of ferrous metal ores	-1.2	-13.9	-9.6
Mining of non-ferrous metal ores	0.7	2.8	4.0
Mining and processing of nonmetal ores	-0.5	1.0	2.5
Processing of food from agricultural and sideline products	-0.7	-2.1	2.1
Manufacture of foods	-0.1	-1.3	-0.2
Manufacture of wines, beverages and refined tea	0.1	1.1	1.3
Manufacture of cigarettes and tobacco	0.0	0.5	0.5
Textile industry	-0.1	-4.7	-4.0
Manufacture of textile wearing apparel and ornament	0.2	0.6	1.1
Processing of timbers, manufacture of wood, bamboo, rattan, palm, and straw products	-0.7	-1.5	-1.1
Manufacture of paper and paper products	-1.2	-6.7	-3.9
Printing, reproduction of recording media	-0.2	-0.3	-0.4
Processing of petroleum, coal and other fuels	-2.6	-20.1	-8.1
Manufacture of raw chemical materials and chemical products	-2.6	-14.9	-9.4
Manufacture of medicine	0.1	0.0	0.0
Manufacture of chemical fibers	-0.3	-6.7	-3.7
Manufacture of rubber and plastics articles	-0.3	-4.4	-3.4
Manufacture of non-metallic mineral products	-1.9	-6.4	-6.1
Smelting and pressing of ferrous metals	-2.2	-16.0	-13.3
Smelting and pressing of non-ferrous metals	-0.8	-7.2	-7.0
Manufacture of metal products	-0.4	-4.3	-3.7
Manufacture of general-purpose machinery	0.1	-0.4	-0.2
Manufacture of automobiles	-0.3	-1.3	-0.9
Manufacture of railway, ship, aerospace and other transport equipment	0.0	0.1	0.6
Manufacture of computers, communication equipment and other electronic equipment	0.0	-2.0	-0.7
Production and supply of electricity and heat power	-0.8	1.3	2.1
Production and supply of gas	-1.4	-1.5	3.4
Production and supply of water	0.1	0.5	0.4

Annotations:

1. Explanatory Notes

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

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

The purchasing 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 survey of producer prices for industrial products covers the prices of industrial products in 40 major industrial categories and more than 1300 basic categories; the survey of purchasing prices for industrial producers covers the prices of industrial products in 9 major categories and more than 800 basic categories.

3. Survey Methods

The survey of producer prices for industrial products adopts the method of combining key-point survey with typical survey, involving more than 40,000 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. The price changes of some categories or industries are small, and according to the "rounding-off" to retain 1 decimal place after the rise and fall is 0, in the expression of price changes as flat.