National Bureau of Statistics: The year-on-year decline in PPI in August was 1.8%, and the month-on-month decline was 0.7%.

The data released by the National Bureau of Statistics shows that in August 2024, the national industrial producer prices fell by 1.8% year-on-year and 0.7% month-on-month; industrial producer purchase prices fell by 0.8% year-on-year and 0.6% month-on-month. The average from January to August, industrial producer prices fell by 1.9% compared to the same period last year, and industrial producer purchase prices fell by 2.1%. I. Changes in industrial producer prices in August In terms of industrial producer prices, the prices of production materials decreased by 2.0%, affecting the overall level of industrial producer prices to decrease by about 1.46 percentage points. Among them, the prices of mining industry increased by 0.9%, raw material industry prices decreased by 0.8%, and processing industry prices decreased by 2.7%. The prices of living materials decreased by 1.1%, affecting the overall level of industrial producer prices to decrease by about 0.29 percentage points. Among them, food prices decreased by 1.3%, clothing prices decreased by 0.4%, general daily necessities remained flat, and durable consumer goods prices decreased by 1.9%. In terms of industrial producer purchase prices, the prices of construction materials and non-metallic materials decreased by 4.4%, black metal materials prices decreased by 4.1%, agricultural and sideline products prices decreased by 2.9%, fuel and power classes, textile raw materials prices all decreased by 1.0%, and chemical raw materials prices decreased by 0.6%; prices of non-ferrous metal materials and wire classes increased by 9.1%. II. Changes in industrial producer prices month-on-month in August In terms of industrial producer prices, the prices of production materials decreased by 1.0%, affecting the overall level of industrial producer prices to decrease by about 0.74 percentage points. Among them, the prices of mining industry decreased by 1.6%, raw material industry prices decreased by 1.2%, and processing industry prices decreased by 0.9%. Prices of living materials remained flat, with food, general daily necessities, and durable consumer goods prices all remaining flat, while clothing prices decreased by 0.1%. In terms of industrial producer purchase prices, black metal materials prices decreased by 1.9%, non-ferrous metal materials and wire class prices decreased by 1.7%, chemical raw materials prices decreased by 0.8%, fuel and power classes, construction materials and non-metallic class prices all decreased by 0.5%, and textile raw materials prices decreased by 0.3%; prices of agricultural and sideline products increased by 0.7%. Main data on industrial producer prices in August 2024 This article is compiled from the official website of the National Bureau of Statistics, GMTEight editor: Xu Wenqiang.