According to the data released by the National Bureau of Statistics on the 9th, in July, due to the overall sufficient domestic production and supply, the improvement of demand in some industries, and the transmission of international bulk commodity prices, the decline in PPI narrowed both month-on-month and year-on-year.
In July, the ex-factory price of industrial producers nationwide fell by 4.4% year-on-year and 0.2% month-on-month; the purchase price of industrial producers fell 6.1% year-on-year and 0.5% month-on-month. Among them, the prices of chemical raw materials and chemical products manufacturing decreased by 14.2% year-on-year and 1.2% month-on-month.
From a month-on-month perspective, the PPI fell by 0.2%, and the rate of decline narrowed by 0.6 percentage points from the previous month. Among them, the price of means of production decreased by 0.4%, and the rate of decline narrowed by 0.7 percentage points; the price of means of living changed from a decrease of 0.2% in the previous month to an increase of 0.3%. The supply of domestic coal and steel is sufficient, and the demand has increased. The prices of coal mining and washing industry, ferrous metal smelting and rolling processing industry fell by 2.0% and 0.1% respectively, and the decline rate narrowed by 4.4 and 2.1 percentage points respectively. Affected by the rising prices of crude oil and non-ferrous metals in the international market, the prices of the domestic oil and gas exploration industry, non-ferrous metal smelting and rolling processing industry all turned from falling to rising, rising by 4.2% and 0.4% respectively.
From a year-on-year perspective, PPI fell by 4.4%, and the rate of decline narrowed by 1.0 percentage points from the previous month. Among them, the price of means of production fell by 5.5%, and the rate of decline narrowed by 1.3 percentage points; the price of means of living decreased by 0.4%, and the rate of decline narrowed by 0.1 percentage point. The price decline of major industries narrowed. The oil and natural gas mining industry fell by 21.5%, narrowing by 4.1 percentage points; the coal mining and washing industry fell by 19.1%, narrowing by 0.2 percentage points; the oil, coal and other fuel processing industry fell by 18.3%, closing Narrowed by 1.8 percentage points; chemical raw materials and chemical products manufacturing industry fell by 14.2%, narrowing by 0.7 percentage points; ferrous metal smelting and rolling processing industry fell by 10.6%, narrowing by 5.4 percentage points; non-ferrous metal smelting and rolling processing industry fell by 1.0%, narrowed by 6.2 percentage points. The total impact of the above six industries on PPI fell by about 3.21 percentage points year-on-year, accounting for more than 70% of the total decline, which was 0.87 percentage points lower than the impact of last month.
Among the purchasing prices of industrial producers, the prices of chemical raw materials decreased by 13.3% year-on-year and 1.5% month-on-month; the prices of fuel and power decreased by 12.2% year-on-year and 1.4% month-on-month.
On average from January to July, the ex-factory price of industrial producers decreased by 3.2% over the same period of the previous year, and the purchasing price of industrial producers decreased by 3.5%.
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