China News Service, Beijing, March 10 (Reporter Wang Enbo) China's National Bureau of Statistics released data on the 10th. In February 2020, China's industrial producer prices (PPI) fell by 0.4% year-on-year and 0.5% month-on-month. On average from January to February, China's PPI decreased by 0.2% compared with the same period last year.
According to Zhao Maohong, director of the Urban Department of the National Bureau of Statistics, in February, due to seasonal and epidemic factors, some industrial companies stopped production and demand weakened. PPI was flat from last month to a 0.5% decline, and from a 0.1% increase to a decrease 0.4%. According to estimates, in the 0.4% year-on-year decrease in the month, the impact of price changes last year was about 0.1 percentage point, and the effect of new price increases was about -0.5 percentage point.
Specifically, the large price fluctuations in the petroleum-related industries were one of the main reasons affecting China's PPI for the month.
Zhao Maohong pointed out that in February, the international crude oil market was greatly impacted, and prices fell sharply, affecting the domestic oil and related industry prices from rising to falling. Among them, the price of oil and gas extraction industry rose from 4.3% last month to 11%, and the price of oil, coal and other fuel processing industry rose from 1.8% to 4.4%. The downstream chemical raw materials and chemical products manufacturing, chemical fiber Prices in the manufacturing, rubber and plastic products industries have fallen to varying degrees. On a year-on-year basis, the prices of the above-mentioned industries have also decreased, ranging from 0.4% to 10.7%, which affects the PPI by about 0.44 percentage points in total.
The prices of coal, steel and non-ferrous metals showed steady declines. In February, the supply and demand of coal was basically balanced, and the price fell from a 0.6% month-on-month to a flat month. Affected by the increase in steel stocks, the prices of ferrous metal smelting and rolling processing industry fell by 1.4% month-on-month, and the decline was expanded by 0.8 percentage points from last month. The impact of copper prices continued to fall, the price of copper smelting fell 3.6%, driving the price of non-ferrous metal smelting and rolling processing industry rose from 0.6% last month to 1.5%.
In addition, the price of the pharmaceutical manufacturing industry rose slightly. Zhao Maohong said that after the epidemic, medical protective material production enterprises actively resumed production and resumed production to ensure supply, but affected by factors such as rising raw material prices and rising logistics costs, the price of pharmaceutical manufacturing in February rose 0.3% month-on-month. Among them, the price of disinfection products increased by 14.8%, and the price of sanitary materials increased by 1.5%. (Finish)