Chinese Producer Price Index for manufactured goods held steady in March from February, fell 1.9% on yearly basis; purchasing price for manufactured goods down 1% from previous month, 2% year-over-year: National Bureau of Statistics of China

Allison Oesterle

Allison Oesterle

Apr 12, 2013 – National Bureau of Statistics of China

BEIJING , April 12, 2013 (press release) – In March 2013, Producer Price Index (PPI) for manufactured goods decreased 1.9 percent, year-on-year, and remained at the same level month-on-month (the amount of change was 0). The purchasing price index for manufactured goods went down by 2.0 percent year-on-year, and 0.1 percent decrease month-on-month. In the average in the first quarter of 2013, the PPI decreased 1.7 percent, year-on-year, the purchasing price index for manufactured goods went down by 1.9 percent year-on-year.

 

 

 

 

 



1. Year-on-Year Changes of Prices of Different Categories



The year-on-year change of producer prices for means of production decreased 2.7 percent, meaning 2.0 percentage points decrease in the overall price level. Of which, producer prices for mining and quarrying industry decreased 5.6 percent; that of raw materials industry decreased 3.2 percent, that of manufacturing and processing industry decreased 2.1 percent. Producer prices for consumer goods went up by 0.5 percent, meaning 0.12 percentage points increase in the overall price level. Of which, producer prices for foodstuff increased 1.2 percent, that of clothing increased 1.5 percent, that of commodities up by 0.3 percent, while that of durable consumer goods dropped 0.8 percent.


 



The year-on-year purchaser price indexes for ferrous metal materials decreased 5.0 percent, non-ferrous metal materials and wires fell 3.7 percent, fuel and power decreased 3.2 percent, agricultural and sideline products prices rose by 1.9 percent.



According to estimation, in the 1.9 percent decrease in March, the carryover effect of last year’s prices changing was -2.3 percentage points, while new prices rising factors in this year accounted for 0.4 percentage points.



2. Month-on-Month Changes of Prices of Different Categories



The producer prices for means of production remained at the same level month-on-month (the amount of change was 0). Of the total, producer prices for mining and quarrying industry increased 0.4 percent, that of raw materials industry increased 0.1 percent, that of manufacturing and processing industry went down by 0.1 percent. Producer prices for consumer goods decreased 0.1 percent month-on-month. Of which, producer prices for foodstuff went down by 0.2 percent, clothing, commodities and durable consumer goods all decreased 0.1 percent.



The month-on-month purchaser price indexes for fuel and power increased 0.5 percent, wood and pulp increased 0.4 percent, ferrous materials and textile raw materials both increased 0.1 percent, non-ferrous metal materials and wires fell 1.1 percent, agricultural and sideline products prices went down by 0.6 percent.



Price Indexes for the Industrial Sector in March

 

March

Quarter 1
on Average

M/M(%)

Y/Y(%)

Y/Y(%)

 

 

 

 

I. Producer Price Indexes

0.0

-1.9

-1.7

Means of production

0.0

-2.7

-2.5

 Mining and quarrying

0.4

-5.6

-5.3

 Raw materials

0.1

-3.2

-2.7

 Processing

-0.1

-2.1

-2.1

Means of subsistence

-0.1

0.5

0.6

 Food

-0.2

1.2

1.3

 Clothing

-0.1

1.4

1.5

 Articles for daily use

-0.1

0.3

0.6

 Durable consumer goods

-0.1

-0.8

-0.9

 

 

 

 

II. Purchaser Price Indexes

-0.1

-2.0

-1.9

Fuel and Power

0.5

-3.2

-2.9

Ferrous Metals

0.1

-5.0

-5.6

Non-ferrous Metal Materials and Wires

-1.1

-3.7

-2.6

Chemical Raw Materials

-0.2

-3.1

-3.1

Wood and Pulp

0.4

-0.2

-0.4

Building Materials and Non-metallic

-0.3

-2.0

-1.7

Other Industrial Raw Materials and Semi-products

-0.1

-0.7

-0.8

Agricultural and Sideline Products

-0.6

1.9

2.3

Textile Raw Materials

0.1

-0.9

-0.9


Annotations:



1. Explanatory Notes



Producer Price Index for manufactured goods consists of producer price index and purchaser price index.



The industrial producer price index reflects the trend and level of prices change when the products are sold for the first time.



The industrial purchaser price index reflects the trend and level of prices change for the products purchased by the industrial enterprises as intermediate inputs.



2. Statistical Coverage



The statistical survey of industrial producer prices covers prices for over 11,000 products from 1702 subclasses, 191 groups; and the statistical surveys of industrial purchaser prices cover prices for over 6,000 industrial products from over 900 subclasses.



3. Survey Methods



Industrial producer prices are collected from combined surveys of key businesses and typical businesses. Starting from 2011, the key businesses are those with their turnover from primary activities over 20 million yuan, and the typical businesses are those with less than 20 million yuan. The surveys cover about 60,000 industrial enterprises in over 400 cities across the country.

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