Producer Prices for the Industrial Sector for November 2011
In November 2011, Producer Price Index (PPI) for manufactured goods increased 2.7 percent year-on-year, and 0.7 percent dropped month-on-month. The purchasing price index for manufactured goods went up by 5.1 percent year-on-year, and 0.7 percent decreased month-on-month. From January to November 2011, the year-on-year PPI increased 6.4 percent, and the purchasing price index for manufactured goods surged 9.7 percent.
The month-on-month change of producer prices for means of production increased 2.6 percent. In which, producer prices for mining and quarrying industry increased 10.6 percent; that of raw materials industry increased 4.1 percent, that of manufacturing and processing industry increased 1.1 percent. Producer prices for consumer goods went up by 3.1 percent month-on-month. Of which, producer prices for foodstuff increased 5.2 percent, that of clothing increased 3.8 percent, that of commodities up by 2.8 percent, that of durable consumer goods dropped 0.4 percent.
The year-on-year change of producer prices for means of production decreased 0.9 percent. Of the total, producer prices for mining and quarrying industry decreased 1.4 percent; that of raw materials industry and manufacturing and processing industry correspondingly down by 1.0 and 0.7 percent. Producer prices for consumer goods fell 0.2 percent. Of which, producer prices for foodstuff decreased 0.2 percent; that of clothing increased 0.2 percent, that of commodities declined 0.3, and that of durable consumer goods dropped 0.1 percent.
The month-on-month purchaser price indexes for non-ferrous metals, fuel and power, ferrous metals and raw chemical material increased 3.6, 9.3, 3.7 and 4.1 percent respectively.
The year-on-year purchaser price indexes for non-ferrous metals, fuel and power, ferrous metals and raw chemical material decreased 0.5, 0.1, 2.0 and 1.5 percent respectively.
In November, the year-on-year Producer Price Index (PPI) for manufactured goods and purchaser price dropped 2.3 and 2.9 percent points as compared with the year-on-year growth rate of October, first, the higher cardinal number of the same period of last year, carryover effect in November significantly reduced; second, due to the fall of raw material prices in the international market, and the slowdown of domestic demand, resulting a decrease in market prices.
Price Indexes for the Industrial Sector in November November Jan-Nov M/M(%) Y/Y(%) Y/Y(%) I. Producer Price Indexes -0.7 2.7 6.4 Means of production -0.9 2.6 7.1 Mining -1.4 10.6 16.0 Raw materials -1.0 4.1 9.8 Processing -0.7 1.1 5.0 Consumer goods -0.1 3.1 4.3 Food -0.2 5.2 7.7 Clothing 0.2 3.8 4.3 Articles for daily use -0.3 2.8 4.2 Durable consumer goods -0.1 -0.4 -0.6 II. Purchaser Price Indexes -0.7 5.1 9.7 Non-ferrous metals -0.5 3.6 13.3 Fuel and power -0.1 9.3 11.0 Ferrous metals -2.0 3.7 10.2 Raw chemical materials -1.5 4.1 11.3
Notes:
1. Explanation of indicators:
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. Coverage: Starting from the year 2011, statistical surveys of industrial producer prices cover prices for over 11,000 products from 1702 subclasses in 525 classes, 191 groups and 39 industrial divisions; and the statistical surveys of industrial purchaser prices cover prices for over 6,000 industrial products from over 900 subclasses.
3. Data collection: Industrial producer prices are collected from combined surveys of key businesses and typical businesses. Starting from 2011, the key businesses are those with their turnover from primary activities over 20 million yuan, and the typical businesses are those with less than 20 million yuan. The surveys cover about 60,000 industrial enterprises in over 400 cities across the country.