China News Agency, Beijing, October 15 (Reporter Wang Enbo) The National Bureau of Statistics of China announced on the 15th that in September, China's industrial producer price index (PPI) fell by 2.1% year-on-year, and the rate of decrease was 0.1% larger than the previous month.
On average from January to September, China’s PPI fell 2.0% over the same period last year.
Specifically, in September, the price of means of production fell by 2.8% year-on-year, and the rate of decline narrowed by 0.2 percentage point; the price of means of subsistence changed from a rise to a fall, down 0.1%.
Among the main industries, agricultural and sideline food processing industries, non-ferrous metal smelting and rolling processing industries have fallen in price increases; coal mining and washing industries, and non-metallic mineral products industries have narrowed price declines; oil and natural gas have increased price declines Mining industry, oil, coal and other fuel processing industries.
From a month-on-month perspective, China’s PPI rose by 0.1% in September, 0.2 percentage points lower than the previous month.
Among them, the price of means of production rose by 0.2%, and the rate of increase fell by 0.2%; the price of means of subsistence changed from rising to falling, falling by 0.1%.
Looking at the 40 industrial sectors surveyed, 15 saw price increases, a decrease of 2 from the previous month; 19 declines, an increase of 1; and 6 industries that remained unchanged, an increase of 1.
According to Tang Jianwei, chief researcher of the Financial Research Center of Bank of Communications, that month, China’s PPI ended its three-month upward trend, and the decline has slightly expanded. There are two main reasons: First, the price of petroleum-related industries has fallen, which has led to lower prices of imported industries; Second, the weak consumer demand is transmitted to the production end, and the price of subsistence in the PPI has changed from rising to falling.
The price of production materials rose month-on-month and the rate of decline narrowed year-on-year. The overall industrial production is still in the process of recovery.
Talking about the follow-up trend of industrial product prices, Tang Jianwei pointed out that single-month PPI volatility has not formed a trend. As special bonds drive infrastructure investment to accelerate, and the global economy is gradually improving, PPI is still expected to gradually rise in the future.
Wen Bin, chief researcher of China Minsheng Bank, suggested that in the future, monetary policy should continue to increase structural support for market players, increase medium and long-term credits for manufacturing, small and medium-sized enterprises, and further enhance corporate confidence, accelerate demand recovery, and promote PPI rebounded steadily.
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