The Industrial Producer Price Index (PPI) data for December 2016 released by the National Bureau of Statistics on January 10 showed that the PPI increased by 1.6% month-on-month and 5.5% year-on-year. The purchasing price of industrial producers increased by 1.9% month-on-month and 6.3% year-on-year. Among them, the ex-factory price of chemical raw materials and chemical products manufacturing industry increased by 6.6% year-on-year and 2.5% month-on-month.
From a month-on-month perspective, PPI rose by 1.6% in December, and the increase continued to expand. Among them, the price of means of production increased by 2.0%, the same increase as last month; the price of means of living increased by 0.3%, an increase of 0.1 percentage points higher than last month. From the perspective of major industries, the prices of ferrous metal smelting and rolling processing, petroleum processing, chemical raw materials and chemical products manufacturing increased by 8.0%, 4.3% and 2.5% respectively month-on-month. The increases were 1.9, 0.8 and 0.6 percentage points higher than the previous month respectively. The total This affected the PPI to rise by about 1.0 percentage points month-on-month; the prices of coal mining and washing, non-ferrous metal smelting and rolling processing, and non-metallic mineral products increased by 3.4%, 2.4% and 0.7% respectively month-on-month, with the increases narrowing by 6.9, 2.6 and 0.6% respectively from the previous month. 0.9 percentage points.
The National Bureau of Statistics analyzed that there are three reasons for the expansion of the month-on-month increase in PPI: First, affected by exchange rate fluctuations and other factors, the price of imported bulk commodities has increased, pushing up the factory output of some industrial products. Price; second, industrial production and market demand have grown steadily, the effects of overcapacity and destocking policies have emerged, and the relationship between supply and demand has gradually improved.
From a year-on-year perspective, PPI rose by 5.5% in December, an increase of 2.2 percentage points from the previous month. In terms of industries, prices in ferrous metal smelting and rolling processing, coal mining and washing, oil and natural gas mining, non-ferrous metal smelting and rolling processing, and petroleum processing industry prices increased by 35.0%, 34.0%, 19.7%, 17.1%, and 16.6% respectively year-on-year. , the increases increased by 12.8, 5.4, 13.5, 4.5 and 7.6 percentage points respectively from the previous month. The total impact on the PPI increased by about 4.2 percentage points year-on-year, accounting for about 76% of the total increase.
Among the purchasing prices for industrial producers in December, the prices of ferrous metal materials increased by 15.1% year-on-year and 4.1% month-on-month; the prices of non-ferrous metal materials and wires increased by 14.9% year-on-year. , up 3.3% month-on-month; fuel and power prices increased 10.1% year-on-year, and 2.3% month-on-month. .
In 2016, the ex-factory price of industrial producers fell by 1.4% year-on-year, and the purchasing price of industrial producers fell by 2.0% year-on-year.
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