China Producer Prices for the Industrial Sector Up In September

China Producer Price Index (PPI) for manufactured goods increased 0.5% month-on-month, and increased 0.1% year-on-year in September 2016, according to National Bureau of Statistics of China data released on Tuesday. Since March 2012, the year-on-year growth rate has turned to positive from negative for the first time. The purchasing price index for manufactured goods increased 0.4% month-on-month, and decreased 0.6% year-on-year. On average from January to September, the PPI decreased 2.9% year-on-year, the purchasing price index for manufactured goods went down by 3.8% year-on-year.

Year-on-Year Changes of Prices of Different Categories

The year-on-year change of producer prices for means of production increased 0.1%, meaning 0.1 percentage point increase in the overall price level. Of which, producer prices for mining and quarrying industry increased 2.1%; that of raw materials industry decreased 0.2%; that of manufacturing and processing industry increased 0.1%. Producer prices for consumer goods remained at the same level (the amount of change was 0, similarly hereinafter) year-on-year. Of which, producer prices for foodstuff increased 0.3%, that of clothing increased 0.7%, that of commodities increased 0.5%, and that of durable consumer goods dropped by 1.5%. According to estimation, in the 0.1% increase in September, the carryover effect of last year's prices changing was -1.5 percentage points, while new prices rising factors accounted for 1.6 percentage points.

The year-on-year purchaser price indices for fuel and power decreased 1.9%, chemical raw materials went down by 1.6%, ferrous metal materials increased 1.8%, non-ferrous metal materials and wires went up by 0.3%.

Month-on-Month Changes of Prices of Different Categories

The producer prices for means of production increased 0.6% month-on-month, meaning 0.5 percentage points increase in the overall price level. Of the total, producer prices for mining and quarrying industry went up by 2.9%, that of raw materials industry increased 1.1%, that of manufacturing and processing industry increased 0.2%. Producer prices for consumer goods remained at the same level month-on-month. Of which, producer prices for foodstuff increased 0.1%, that of clothing increased 0.2%, that of commodities decreased 0.2%, durable consumer goods decreased 0.1%.

The month-on-month purchaser price indices for fuel and power went up by 1.3%, that of ferrous metal materials increased 0.9%, that of building materials and non-metallic went up by 0.5%, that of non-ferrous metal materials and wires went up by 0.2%.

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