On August 10, the National Bureau of Statistics released the July 2020 Industrial Producers' Ex-factory Price Index (PPI). In July 2020, the national industrial producer's ex-factory price decreased 2.4% year-on-year and increased 0.4% month-on-month; industrial producers purchased Prices fell 3.3% year-on-year, and rose 0.9% month-on-month.
In July, the ex-factory prices of chemical raw materials and chemical products manufacturing industry fell by 0.1% month-on-month and 7.5% year-on-year.
In July, industrial production continued to rebound, market demand gradually recovered, and international bulk commodity prices continued to rise.
From a month-on-month perspective, PPI rose by 0.4%, the same rate as last month. Among them, the price of means of production rose by 0.5%, and the price of means of subsistence rose by 0.1%, both at the same rate as last month. Looking at the 40 industrial sectors surveyed, there were 21 price increases, one decrease from the previous month; 15 decreases, an increase of 3, and 4 constants, a decrease of 2.
Affected by the continued rebound in international crude oil prices, prices in petroleum-related industries continued to rise. Among them, the prices of petroleum and natural gas extraction industries rose by 12.0%, and the prices of petroleum, coal and other fuel processing industries rose by 3.4%.
From a year-on-year perspective, PPI fell by 2.4%, and the rate of decline narrowed by 0.6 percentage points from the previous month. Among them, the price of means of production fell by 3.5%, and the rate of decline narrowed by 0.7%; the price of means of living rose by 0.7%, and the rate of increase expanded by 0.1%.
The price decline of major industries has narrowed. Among them, the price of oil and natural gas extraction industry fell by 27.8%, a decrease of 11.3 percentage points; the price of petroleum, coal and other fuel processing industries fell by 17.0%, a decrease of 4.6 percentage points; the price of chemical raw materials and chemical products manufacturing fell by 7.5%, and 0.4% narrower.
On average from January to July, the ex-factory prices for industrial producers fell by 2.0% over the same period last year, and the purchasing prices for industrial producers fell by 2.7%. Among them, the ex-factory prices of chemical raw materials and chemical products manufacturing fell by 6.7% year-on-year.
