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National Bureau of Statistics of China : Producer Prices for the Industrial Sector for January

02/16/2013 | 02:28am US/Eastern

In January 2013, Producer Price Index (PPI) for manufactured goods decreased 1.6 percent, year-on-year, and 0.2 percent increase month-on-month. The purchasing price index for manufactured goods went down by 1.9 percent year-on-year, and 0.3 percent increase month-on-month.

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

The year-on-year change of producer prices for means of production decreased 2.4 percent, meaning 1.80 percentage points decrease in the overall price level. Of which, producer prices for mining and quarrying industry decreased 5.0 percent; that of raw materials industry decreased 2.2 percent, that of manufacturing and processing industry decreased 2.2 percent. Producer prices for consumer goods went up by 0.7 percent, meaning 0.16 percentage points increase in the overall price level. Of which, producer prices for foodstuff increased 1.3 percent, that of clothing increased 1.5 percent, that of commodities up by 0.9 percent, while that of durable consumer goods dropped 1.0 percent.

The year-on-year purchaser price indexes for non-ferrous metal materials and wires decreased 6.5 percent, chemical raw materials decreased 3.1 percent, fuel and power decreased 2.6 percent, non-ferrous metal materials and wires fell 1.5 percent, agricultural and sideline products prices rose by 2.5 percent.

According to estimation, in the 1.6 percent decrease in January, the carryover effect of last year¨s prices changing was -1.8 percentage points, while new prices rising factors in this year accounted for 0.2 percentage points.

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

The month-on-month change of producer prices for means of production increased 0.2 percent, meaning 0.17 percentage points increase in the overall price level. Of the total, producer prices for mining and quarrying industry increased 0.4 percent, that of raw materials industry increased 0.4 percent, that of manufacturing and processing industry went up by 0.1 percent. Producer prices for consumer goods increased 0.3 percent month-on-month, meaning 0.07 percentage points increase in the overall price level. Of which, producer prices for foodstuff went up by 0.6 percent, clothing increased 0.3 percent, commodities increased 0.1 percent, and durable consumer goods remained at the same level (the amount of change was 0).

The month-on-month purchaser price indexes for ferrous materials rose by 1.0 percent, agricultural and sideline products prices increased 0.9 percent, textile raw materials prices rose by 0.2 percent, building materials and non-metallic decreased 0.5 percent.

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.





Price Indexes for the Industrial Sector in January

January

M/M(%)

Y/Y(%)

I. Producer Price Indexes

0.2

-1.6

Means of production

0.2

-2.4

Mining and quarrying

0.4

-5.0

Raw materials

0.4

-2.2

Processing

0.1

-2.2

Means of subsistence

0.3

0.7

Food

0.6

1.3

Clothing

0.3

1.5

Articles for daily use

0.1

0.9

Durable consumer goods

0.0

-1.0

II. Purchaser Price Indexes

0.3

-1.9

Fuel and Power

0.1

-2.6

Ferrous Metals

1.0

-6.5

Non-ferrous Metal Materials and Wires

0.1

-1.5

Chemical Raw Materials

0.1

-3.1

Wood and Pulp

0.1

-0.5

Building Materials and Non-metallic

-0.5

-1.4

Other Industrial Raw Materials and Semi-products

0.1

-1.0

Agricultural and Sideline Products

0.9

2.5

Textile Raw Materials

0.2

-0.9

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