China’s producer prices continue to fall in January
The country’s PPI dropped by 0.8% YoY.
China's Producer Price Index (PPI) for manufactured goods declined by 0.8% year-on-year (YoY) in January 2023, according to the latest data from the National Bureau of Statistics of China. The PPI also dropped by 0.4% month-on-month (MoM), whilst the purchasing price of industrial products increased by 0.1% YoY but fell by 0.7% MoM.
China's Producer Price Index (PPI) for manufactured goods declined by 0.8% year-on-year (YoY) in January 2023, according to the latest data from the National Bureau of Statistics of China. The PPI also dropped by 0.4% month-on-month (MoM), whilst the purchasing price of industrial products increased by 0.1% YoY but fell by 0.7% MoM.
The price of means of production decreased by 1.4%. Amongst them, only the price of mining industry saw an increase of 2.0%—the price of raw materials industry and the price of processing industry both saw decreases of 0.1% and 2.3%, respectively.
Meanwhile, the price of means of living increased by 1.5%. All prices under this category went up: food prices by 2.8%, clothing prices by 1.9%, general commodity prices by 1.2%, and durable consumer goods prices by 0.3%.
The price of fuel and power increased by 7.2%, and the price of agricultural and sideline products increased by 5.2%. But decreases were felt in the prices of ferrous metal materials (7.8%), building materials and non-metallic (5.3%), chemical raw materials (4.7%), and non-ferrous metal materials and wires (1.8%).
