Producer Prices for the Industrial Sector for January 2021

SHANGHAI, Feb 23 (SMM) — In January 2021, Producer Price Index (PPI) for manufactured goods rose by 0.3 percent year on year and 1.0 percent month on month. The purchasing price index for manufactured goods increased by 0.9 percent year on year and 1.4 percent month on month.

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

Among the PPI for manufactured goods, the year-on-year producer prices for means of production changed from dropping to rising, increased by 0.5 percent, affecting 0.35 percentage point increase in the overall level of producer price. Of which, producer prices for mining and quarrying industry, manufacturing and processing industry both increased by 1.0 percent; that of raw materials industry decreased by 0.8 percent. Producer prices for consumer goods decreased by 0.2 percent year on year, and the pace of decline narrowed 0.2 percentage point than that of last month, meaning 0.06 percentage point decrease in the overall price level. Of which, producer prices for foodstuff increased by 1.6 percent, while that of clothing fell 1.3 percent, that of commodities unchanged and that of durable consumer goods decreased by 1.8 percent.

Among the purchaser price index, the year-on-year purchaser price indices for ferrous metal materials and nonferrous metal materials and wires jumped by 8.7 and 8.3 percent; while that of fuel and power and chemical raw materials decreased by 4.8 and 1.3 percent respectively.

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

Among the PPI for manufactured goods, the prices for means of production went up by 1.2 percent month-on-month, lower 0.2 percentage point over last month, affecting 0.93 percentage point increase in the overall level of producer price. Of the total, producer prices for mining and quarrying industry increased by 5.5 percent, that of raw materials industry increased by 1.8 percent and that of manufacturing and processing industry rose by 0.7 percent. The prices of consumer goods increased by 0.2 percent, and the pace of grow rate expanded 0.1 percentage point, affecting 0.05 percentage point increase in the overall level of producer price. Of which, the producer prices for foodstuff increased by 0.7 percent, that of clothing decreased by 0.2 percent, that of commodities rose by 0.1 percent, while that of durable consumer goods decreased by 0.1 percent.

The month-on-month purchaser price indices for fuel and power, ferrous metals materials, nonferrous metal materials and wires, and chemical raw materials, respectively increased by 3.3, 3.0, 1.6 and 1.1 percent.