The Ex-factory Prices of Chemical Raw Materials And Products in The First Two Months Increased By 20.3% Year-on-year

According to the National Bureau of Statistics on March 9, in February, affected by factors such as the rise in the prices of crude oil, non-ferrous metals and other international bulk commodities, the PPI increased from a month-on-month period, and the year-on-year increase fell.

In February 2022, the national ex-factory price for industrial producers increased by 8.8% year-on-year and 0.5% month-on-month; the purchase price of industrial producers increased by 11.2% year-on-year and 0.4% month-on-month. Among them, the ex-factory price of chemical raw materials and chemical products manufacturing industry increased by 19.7% year-on-year and 1% month-on-month; the purchase price of chemical raw materials increased by 16.8% year-on-year and 0.4% month-on-month.

From a month-on-month perspective, PPI increased by 0.5% from a decrease of 0.2% in the previous month. Among them, the price of means of production changed from a decrease of 0.2% to an increase of 0.7%, and the price of the means of living changed from a flat to an increase of 0.1%. The sharp rise in international crude oil prices drove up the prices of domestic oil-related industries. Among them, the price of oil extraction rose by 13.5%, the manufacturing price of refined petroleum products rose by 6.5%, and the manufacturing price of organic chemical raw materials rose by 2.9%.

On a year-on-year basis, the PPI increased by 8.8%, a decrease of 0.3 percentage points from the previous month. Among them, the prices of means of production rose by 11.4%, and the increase fell by 0.4 percentage points; the prices of living means rose by 0.9%, and the increase increased by 0.1 percentage points. Of the 40 major industrial sectors surveyed, 36 saw price increases, the same as last month. Among the major industries, the price increases fell: coal mining and washing industry rose by 45.4%, a fall of 5.9 percentage points; chemical raw materials and chemical products manufacturing industry rose by 19.7%, a fall of 1.3 percentage points; chemical fiber manufacturing industry rose by 11.4%, a fall of 1.3 percentage points 2.7 percentage points. The price increases expanded: the oil and natural gas extraction industry rose by 41.9%, an increase of 3.7 percentage points; the petroleum coal and other fuel processing industry rose by 30.2%, an increase of 0.1 percentage points.

On average from January to February, the ex-factory price of industrial producers rose by 8.9% over the same period of last year, and the purchase price of industrial producers rose by 11.6%. Among them, the ex-factory price of chemical raw materials and chemical products manufacturing industry increased by 20.3% year-on-year; the purchase price of chemical raw materials increased by 17.3% year-on-year.