NBS: China CPI and PPI YoY Growth in December both Dropped from the Previous Month

Published: Jan 12, 2022 13:39

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China consumer price index rose 1.5% year-on-year in December, compared to the estimate of 1.7% and the previous reading of 2.3%. China's ex-works producer price index rose 10.3% year-on-year in December, compared with the estimate of 11.3% and the previous reading of 12.9%.

SHAGNHAI, Jan 12 - China consumer price index rose 1.5% year-on-year in December, compared to the estimate of 1.7% and the previous reading of 2.3%. China's ex-works producer price index rose 10.3% year-on-year in December, compared with the estimate of 11.3% and the previous reading of 12.9%.

Consumer price index in December 2021 rose 1.5% YoY, down 0.3% MoM

In December 2021, national CPI rose by 1.5% year-on-year. Amon them, the CPI in urban area rose by 1.6% and the CPI in rural areas added by 1.2%; food prices fell by 1.2% and non-food prices rose by 2.1%; consumer goods prices rose by 1.5% and services prices rose by 1.5%.

Also in December, national CPI fell by 0.3% MoM. Among them, the CPI in urban areas fell by 0.3% and that in rural areas dropped by 0.3%; food prices fell by 0.6% and non-food prices dropped by 0.2%; consumer goods prices fell by 0.4% and services prices were flat.

The national CPI rose by 0.9% compared to the previous year.

Ex-works industrial producer price index up 10.3% YoY, down 1.2% MoM in Dec 2021

In December 2021, national ex-works producer price index (PPI) rose by 10.3% year-on-year and fell by 1.2% MoM, while industrial producer purchase prices rose by 14.2% YoY and fell by 1.3% MoM.

The ex-works producer price index rose by 8.1% YoY and the industrial producer purchase prices rose by 11.0% YoY throughout 2021

Producer prices changes year-on-year

In term of ex-works producer prices, production materials prices rose 13.4%, affecting the total index by about +10.07 percentage points. Among them, the prices of extractive industries rose 44.2%, the prices of raw materials industry rose 19.7%, and the prices of processing industry rose 8.2%. Living materials prices rose 1.0%, affecting the total index by about +0.25 percentage points. Among them, food and general daily necessities prices rose 1.4%, clothing prices rose 1.0%, and consumer durables prices rose 0.4%.

In terms of industrial producers purchase prices, fuel and power prices rose 35.5%, chemical raw materials prices rose 20.5%, non-ferrous metal materials and wire prices rose 19.0%, ferrous metal materials prices rose 14.0%.

Producer prices changes month-on-month

In term of ex-works producer prices,, the prices of production materials fell 1.6%, affecting the total index by about -1.21 percentage points. Among them, the prices of extractive industries fell 6.8%, the prices of raw materials industry fell 1.7%, and the prices of processing industry fell 0.9%. Prices of living materials were flat. Among them, food and general daily necessities prices rose 0.1%, clothing prices fell 0.3%, and consumer durables prices fell 0.1%.

In terms of industrial producers purchase prices, fuel and power prices fell 3.8%, ferrous metal materials prices fell 2.2%, chemical raw materials prices fell 1.7%, non-ferrous metal materials and wire prices fell 1.4%.

PPI CPI

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