The national PPI (Price Index of Industrial Producers) data for April 2023 released by the National Bureau of Statistics on May 11 showed that in April, due to fluctuations in international bulk commodity prices, domestic and foreign market demand was generally weak Influenced by factors such as the high comparison base in the same period of last year, the PPI fell by 0.5% month-on-month and 3.6% year-on-year; the purchase price of industrial producers fell by 3.8% year-on-year and 0.7% month-on-month.
The data shows that in April, the prices of chemical raw materials and chemical products manufacturing industry fell by 9.9% year-on-year and 1.1% month-on-month; the prices of oil and natural gas extraction industry fell by 16.3% year-on-year, and increased by 0.5% month-on-month; the prices of oil, coal and other fuel processing industries fell year-on-year 11.4%, down 2.3% month-on-month. The purchase price of chemical raw materials decreased by 9.2% year-on-year and 1.1% month-on-month.
From a month-on-month perspective, the PPI changed from being flat last month to a decrease of 0.5%. Among them, the price of means of production changed from being flat last month to a decrease of 0.6%; the price of means of living changed from being flat last month to a decrease of 0.3%. Affected by fluctuations in international crude oil prices, domestic oil, coal and other fuel processing industry prices fell by 2.3%, and chemical raw materials and chemical product manufacturing prices fell by 1.1%. The supply of steel, cement and other industries is generally sufficient, but the demand is lower than expected. The price of ferrous metal smelting and rolling processing industry decreased by 1.0%, and the price of cement manufacturing decreased by 0.1%. Coal production capacity continued to be released, coupled with the still large import volume, the price of coal mining and washing industry fell by 4.0%. The price of non-ferrous metal smelting and rolling processing industry rose by 0.2%, of which the price of copper smelting rose by 0.3%, and that of aluminum smelting rose by 0.1%. In addition, the prices of computer communication and other electronic equipment manufacturing industries decreased by 0.7%, and the prices of automobile manufacturing industries decreased by 0.2%.
From a year-on-year perspective, PPI fell by 3.6%, and the rate of decline expanded by 1.1 percentage points from the previous month. The year-on-year decline has expanded, mainly due to the higher comparison base of industries such as petroleum and ferrous metals in the same period last year, and the recent weak domestic and foreign demand. Among them, the price of means of production decreased by 4.7%, and the rate of decline expanded by 1.3 percentage points; the price of means of living increased by 0.4%, and the increase rate dropped by 0.5 percentage points. Among the major industries, the price of oil and natural gas mining industry fell by 16.3%, and the rate of decline expanded by 0.6 percentage points; the price of ferrous metal smelting and rolling processing industry decreased by 13.6%, and the rate of decline expanded by 2.6 percentage points; the price of coal mining and washing industry fell by 9.3%, and the rate of decline expanded The price of non-ferrous metal smelting and rolling processing industry fell by 8.6%, and the rate of decline expanded by 0.6 percentage points. In addition, the prices of computer communications and other electronic equipment manufacturing industries decreased by 0.7%, and the prices of automobile manufacturing industries decreased by 1.0%. Prices in the food processing industry rose 1.1 percent.
On average from January to April, the ex-factory price of industrial producers decreased by 2.1% compared with the same period last year, and the purchasing price of industrial producers decreased by 1.5%.
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