Prices of chemical raw materials and products rose 24% year-on-year in August

According to news from the National Bureau of Statistics on September 9th, in August, affected by the increase in the prices of coal, chemical and steel products, the price increase of industrial products both increased month-on-month and year-on-year.

Data shows that in August 2021, the national factory prices for industrial producers rose 9.5% year-on-year and 0.7% month-on-month; the purchasing prices for industrial producers rose 13.6% year-on-year and 0.8% month-on-month. Among them, the prices of chemical raw materials and chemical products manufacturing increased 24% year-on-year and 1.9% month-on-month.

From a month-on-month perspective, the PPI rose by 0.7%, an increase of 0.2 percentage points from the previous month. Among them, the price of means of production rose by 0.9%, an increase of 0.3%; the price of means of subsistence remained flat. From the perspective of major industries, due to the strong demand and the overall tight supply, the price of coal mining and washing industry increased by 6.5%; the price of crude oil and coal in the early stage rose more, which promoted the continued increase in the prices of domestic middle and downstream industries. Among them, chemical raw materials and chemical Product manufacturing prices increased by 1.9%, an increase of 1.1 percentage points; driven by the recent rapid increase in imported natural gas prices, domestic gas production and supply prices rose by 1.7%, an increase of 1.5 percentage points; ferrous metal smelting and rolling processing industry, non-ferrous metals The prices of smelting and rolling processing industries both turned from falling to rising, rising by 2.2% and 1.4% respectively.

From a year-on-year perspective, the PPI rose by 9.5%, an increase of 0.5 percentage points from the previous month. Among them, the price of means of production rose by 12.7%, an increase of 0.7%; the price of means of living rose by 0.3%, the same as the previous month. Among the main industries, coal mining and processing, ferrous metal mining and dressing, petroleum and natural gas extraction, petroleum, coal and other fuel processing industries, ferrous metal smelting and rolling processing industry, non-ferrous metal smelting and rolling processing industry, chemical raw materials And the price increase of chemical products manufacturing industry and chemical fiber manufacturing industry was between 21.8% and 57.1%, which affected the PPI increase by about 7.9%, more than 80% of the total increase. Among them, the price increase of coal mining and washing industry, chemical raw material and chemical product manufacturing, ferrous metal smelting and rolling processing industry increased by 11.4, 2.7 and 1.1 percentage points respectively, which was the main reason for the increase in the year-on-year increase.

According to estimates, of the 9.5% year-on-year increase in August, the carry-over impact of last year's price changes was approximately 1.8 percentage points, a decrease of 0.3 percentage points from the previous month; the impact of the new price increase was approximately 7.7 percentage points, an increase of 0.8 percentage points.

In the purchasing prices of industrial producers, among the purchasing prices of industrial producers, the price of fuel and power increased by 26.2% year-on-year and 2.4% month-on-month; the price of chemical raw materials increased 20.3% year-on-year and 1.3% month-on-month.

On average from January to August, the ex-factory prices for industrial producers rose by 6.2% over the same period last year, and the purchasing prices for industrial producers rose by 8.6%. Among them, the prices of chemical raw materials and chemical products manufacturing increased by 14.9% year-on-year.