Recently, the National Bureau of Statistics released the data of industrial producer prices in September 2024. In September, producer prices fell by 2.8% year-on-year and 0.6% month-on-month. The purchase prices of industrial producers decreased by 2.2% year on year and 0.8% month on month. From January to September, the average producer price was down by 2.0%, and the purchasing price of industrial producers was down by 2.1%.
I. Year-on-year changes in industrial producer prices in September
Among the ex-factory prices of industrial producers, the prices of means of production fell by 3.3%, affecting the overall level of ex-factory prices of industrial producers to fall by about 2.41 percentage points. The 1.3% drop in the price of means of subsistence affected the overall level of producer prices to fall by about 0.35 percentage points.
Among the purchase prices of industrial producers, the price of ferrous metal materials fell by 6.8%, the price of building materials and non-metals fell by 4.2%, the price of fuel and power fell by 4.1%, the price of chemical raw materials fell by 3.3%, and the price of textile raw materials fell by 1.7%.
Second, the change of industrial producer prices in September
Among the ex-factory prices of industrial producers, the prices of means of production fell by 0.8%, affecting the overall level of ex-factory prices of industrial producers to fall by about 0.61 percentage points. The 0.1% drop in the price of means of subsistence affected the overall level of producer prices to fall by about 0.03 percentage points.
It is worth noting that in September 2024, the factory prices of industrial producers in the printing and recording media reproduction industry fell by 0.3% year-on-year, and the factory prices of industrial producers in the printing and recording media reproduction industry fell by 1.3% year-on-year from January to September. In September 2024, the industrial producer prices of paper and paper products fell by 0.5% year-on-year, and the industrial producer prices of paper and paper products fell by 3.9% year-on-year from January to September.
