National Bureau of Statistics: In February 2024, the industrial producer prices fell by 2.7% year-on-year and 0.2% month-on-month.

The National Bureau of Statistics released the PPI data on March 9th. In February 2024, the national industrial producer's ex-factory prices fell by 2.7% year-on-year and 0.2% month-on-month; the industrial producer's purchasing prices fell by 3.4% year-on-year and 0.2% month-on-month. On average from January to February, the industrial producer's ex-factory prices decreased by 2.6% compared to the same period last year, and the industrial producer's purchasing prices decreased by 3.4%. I. Changes in industrial producer prices year-on-year in February In terms of industrial producer's ex-factory prices, the prices of production materials decreased by 3.4%, leading to a total decrease of about 2.51 percentage points in the overall level of industrial producer's ex-factory prices. Among them, prices in the mining industry fell by 5.5%, prices in the raw material industry fell by 3.4%, and prices in the processing industry fell by 3.2%. Prices of consumer goods decreased by 0.9%, leading to a total decrease of about 0.22 percentage points in the overall level of industrial producer's ex-factory prices. Among them, food prices fell by 0.9%, clothing prices rose by 0.3%, prices of general daily necessities remained stable, and prices of durable consumer goods fell by 1.9%. In terms of industrial producer's purchasing prices, prices in the fuel and power category fell by 6.6%, prices of building materials and non-metal categories fell by 6.5%, prices of chemical raw materials fell by 5.6%, prices of agricultural and sideline products fell by 5.3%, and prices of black metal materials fell by 1.5%; prices of non-ferrous metal materials and wires rose by 0.6%. II. Changes in industrial producer prices month-on-month in February In terms of industrial producer's ex-factory prices, the prices of production materials decreased by 0.3%, leading to a total decrease of about 0.22 percentage points in the overall level of industrial producer's ex-factory prices. Among them, prices in the mining industry rose by 0.2%, prices in the raw material industry fell by 0.4%, and prices in the processing industry fell by 0.3%. Prices of consumer goods decreased by 0.1%, leading to a total decrease of about 0.02 percentage points in the overall level of industrial producer's ex-factory prices. Among them, food and durable consumer goods prices remained stable, clothing prices fell by 0.1%, and prices of general daily necessities fell by 0.2%. In terms of industrial producer's purchasing prices, prices of building materials and non-metal categories, and agricultural and sideline product categories all fell by 0.5%, prices of fuel and power categories and black metal material categories both fell by 0.3%, prices of chemical raw materials fell by 0.2%; prices of non-ferrous metal materials and wires remained stable. This article is translated from the National Bureau of Statistics. Editor: Li Cheng.