SMM News: in August 2020, national industrial producer prices fell 2.0% from the same period last year, up 0.3% from the previous year; industrial producer purchase prices fell 2.5% from the same period last year, up 0.6% from the previous year. From January to August, on average, the ex-factory prices of industrial producers fell by 2.0% compared with the same period last year, and the purchase prices of industrial producers fell by 2.7%.

I. year-on-year changes in industrial producer prices

Among the ex-factory prices of industrial producers, the prices of means of production fell 3.0% from the same period last year, 0.5 percentage points lower than the previous month, and the overall level of ex-factory prices of industrial producers fell by about 2.19 percentage points. Of this total, the prices of the extractive industry, raw materials and processing industries fell by 5.8%, 6.4% and 1.4% respectively. The price of means of subsistence rose 0.6% year on year, 0.1 percentage point lower than that of the previous month, and the overall ex-factory price level of industrial producers rose by about 0.15%. Of this total, food prices rose 3.1 per cent, clothing prices dropped 1.3 per cent, general commodity prices fell 0.4 per cent, and consumer durables prices fell 1.5 per cent.

Among the purchase prices of industrial producers, the prices of fuel power, chemical raw materials and ferrous metals fell by 9.8%, 8.4%, 0.5%, 6.3% and 2.9%, respectively.

II. Month-on-month changes in industrial producer prices

Among the ex-factory prices of industrial producers, the prices of means of production rose 0.4%, 0.1 percentage points lower than last month, and the overall level of ex-factory prices of industrial producers rose by about 0.26%. Of this total, the prices of the extractive industry, raw materials and processing industries rose by 1.6%, 0.5% and 0.2% respectively. The price of means of subsistence rose 0.1%, the same as last month, affecting the overall level of ex-factory prices of industrial producers by about 0.02 percentage points. Among them, the price of food rose 0.2%, the price of clothing decreased 0.2%, the price of general daily necessities rose 0.5%, and the price of consumer durables fell 0.4%.

Among the purchase prices of industrial producers, the prices of non-ferrous materials and electric wires rose 2.9%, the prices of ferrous metal materials rose 1.6%, the prices of agricultural and sideline products rose 0.8%, and the prices of fuel power rose 0.4%. Prices of building materials and non-metals fell 0.2 per cent.

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