China PPI in November is Flat MoM

SHANGHAI, Dec 9 - In November 2021, Producer Price Index (PPI) for manufactured goods rose 12.9% year-on-year, unchanged from the previous month. The purchasing price index for manufactured goods rose 17.4% year-on-year, up 1.0% from the previous month. From January to November, the producer price of industrial products rose 7.9% from the same period last year, and the purchasing price of industrial products rose 10.7%.

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 increased by 17 percent, affecting 12.66 percentage points increase in the overall level of producer price. Among them, producer prices for mining and quarrying industry, raw materials industry, manufacturing and processing industry increased by 60.5, 25.0 and 10.1 percent respectively. Producer prices for consumer goods increased by 1 percent, meaning 0.26 percentage point increase in the overall price level. In details, producer prices for foodstuff increased by 1.6 percent, and that of clothing and commodities rose by 1.2 percent and 1.4 percent respectively, while that of durable consumer goods decreased by 0.1 percent.

Among the purchaser price index, the year-on-year purchaser price indices for fuel and power, non-ferrous metal materials and wires, chemical raw materials and ferrous metal materials jumped by 43.8, 25.1, 24.7 and 19.4 percent respectively.

Month-on-Month Changes of Prices of Different Categories

Among the PPI for manufactured goods, the prices for means of production went down by 0.1 percent month-on-month, affecting 0.06 percentage points decrease in the overall level of producer price. Among them, producer prices for mining and quarrying industry, raw materials industry and manufacturing and processing industry dropped 2.1, increased 0.9 and declined 0.3 percent respectively. The prices of consumer goods increased by 0.4 percent, affecting 0.08 percentage point increase in the overall level of producer price. In details, the producer prices for foodstuff grew by 0.8 percent, and that of clothing and commodities both increased by 0.4 percent, while that of durable consumer goods dropped by 0.2 percent.

The month-on-month purchaser price indices for fuel and power, chemical raw materials increased by 3.5 and 1.9 percent respectively, and that of non-ferrous metal materials and wire was flat; while that of ferrous metals materials decreased by 2.3 percent.