IPI of chemical raw materials fell by 7.8% in September

According to data released by the National Bureau of Statistics on October 15th, in September 2020, the national factory prices for industrial producers fell by 2.1% year-on-year and increased by 0.1% month-on-month; the purchasing prices for industrial producers fell by 2.3% year-on-year and increased by 0.4% month-on-month. On average from January to September, the ex-factory price of industrial producers fell by 2.0% over the same period last year, and the purchase price of industrial producers fell by 2.6%.

Among the ex-factory prices of industrial producers, the prices of means of production fell by 2.8% year-on-year, and the rate of decline narrowed by 0.2 percentage points from the previous month, affecting the overall level of industrial producers' ex-factory prices by about 2.05 percentage points. Among them, the price of mining and quarrying industry fell by 4.8%, the price of raw material industry fell by 6.2%, and the price of processing industry fell by 1.3%. The price of means of subsistence changed from a 0.6% increase in the previous month to a decrease of 0.1% year-on-year, affecting the overall level of factory prices for industrial producers to drop by about 0.02 percentage points. Among them, food prices rose 2.1%, clothing prices fell 1.7%, general daily necessities fell 0.8%, and durable consumer goods prices fell 1.9%.

Among the purchasing prices of industrial producers, the price of fuel and power fell by 9.3%, that of chemical raw materials fell by 7.8%; the prices of agricultural and sideline products rose by 3.9%, the prices of non-ferrous metal materials and wires rose by 2.9%, and the prices of ferrous metal materials by 1.8%. %.

Among the ex-factory prices of industrial producers, the prices of the means of production rose by 0.2%, a decrease of 0.2 percentage points from the previous month, which affected the overall increase of the ex-factory prices of industrial producers by about 0.13 percentage points. Among them, the price of mining and quarrying industry increased by 0.6%, the price of raw material industry increased by 0.3%, and the price of processing industry increased by 0.1%. The price of means of subsistence changed from a 0.1% increase last month to a decrease of 0.1%, affecting the overall level of factory prices for industrial producers to drop by about 0.03 percentage points. Among them, food prices remained flat, clothing prices fell 0.2%, general daily necessities fell 0.1%, and durable consumer goods prices fell 0.3%.

Among the purchasing prices of industrial producers, the prices of ferrous metal materials rose by 1.3%, the prices of non-ferrous metal materials and wires rose by 0.9%, the prices of fuel and power, construction materials and non-metals all rose by 0.5%; the prices of agricultural and sideline products remained flat.

In this regard, Dong Lijuan, a senior statistician at the City Department of the National Bureau of Statistics, explained that in September, domestic industrial production and demand recovered steadily, and the prices of industrial products continued to rise. From a month-on-month perspective, the PPI rose by 0.1%, a decrease of 0.2 percentage points from the previous month. Among them, the price of means of production rose by 0.2%, and the rate of increase fell by 0.2 percentage points; 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. Affected by changes in international crude oil prices, prices in petroleum-related industries have turned from rising to falling. Among them, the prices of petroleum and natural gas extraction industries fell by 2.3%, and the prices of petroleum, coal and other fuel processing industries fell by 0.5%. Among other major industries, the price growth of ferrous metal smelting and rolling processing industry, which rose by 1.3%, fell by 0.2%; the non-ferrous metal smelting and rolling processing industry, which rose by 0.7%, fell by 2.3%; the agricultural and sideline food processing industry, Increased by 0.2%, down 0.4%. In addition, the prices of non-metallic mineral products, coal mining and washing industries all turned from falling to rising, rising by 0.4% and 0.3% respectively; the prices of computer, communications and other electronic equipment manufacturing industries fell by 0.7%, an increase of 0.3% from last month. percentage point.

From a year-on-year perspective, PPI fell by 2.1%, an increase of 0.1 percentage point from the previous month. Among them, the price of means of production fell by 2.8%, and the rate of decline narrowed by 0.2%; the price of means of subsistence changed from an increase to a decline, down 0.1%. Among the major industries, the agricultural and sideline food processing industry saw a decline in price growth, which rose by 3.9%, a drop of 1.6%; the non-ferrous metal smelting and rolling processing industry, which rose by 2.9%, fell by 0.5%. In the coal mining and washing industry, the price decline was reduced by 7.5%, which was a decrease of 0.5%; the non-metallic mineral products industry, which was down by 2.3%, was a decrease of 0.2%. The oil and natural gas mining industry, which decreased by 26.2%, increased by 1.0 percentage point; the oil, coal and other fuel processing industries, decreased by 16.9%, and increased by 0.2 percentage point. In addition, the price of ferrous metal smelting and rolling processing industry turned to flat from a decline last month.

According to estimates, in the 2.1% year-on-year decline in September, the carry-over impact of last year's price changes was 0, and the impact of new price increases was about -2.1 percentage points.