The industrial producer price index (PPI) data for May 2017 released by the National Bureau of Statistics on June 9 showed that the PPI fell by 0.3% month-on-month and increased by 5.5% year-on-year. Among them, the prices of chemical raw materials and chemical products manufacturing industry increased by 7.7% year-on-year and decreased by 1% month-on-month.
From a year-on-year perspective, PPI rose by 5.5% in May, 0.9 percentage points lower than the previous month. Among them, prices in the coal mining and washing industry increased by 37.2%, a decrease of 3.2 percentage points from the previous month; prices in the oil and natural gas mining industry increased by 27.0%, a decrease of 16.0 percentage points; prices in the petroleum processing industry increased by 22.0%, a decrease of 5.5 percentage points; Prices in the ferrous metal smelting and rolling processing industry increased by 17.7%, a decrease of 4.6 percentage points; prices in the non-ferrous metal smelting and rolling processing industry increased by 13.6%, a decrease of 2.2 percentage points; prices of chemical raw materials and chemical products manufacturing industry increased by 7.7%, a decrease of 1.5 percentage points . The above six major industries collectively affected the PPI to rise by approximately 4.1 percentage points year-on-year, accounting for 74.5% of the total increase.
From a month-on-month perspective, PPI continued to decline in May, but the decline narrowed by 0.1 percentage points from the previous month. Among them, the price of means of production fell by 0.4%, a decrease of 0.2 percentage points narrower than last month; the price of means of living fell by 0.1%, and the decrease was the same as last month. Among the 40 major industrial industries surveyed, product prices in 20 industries fell month-on-month, an increase of 6 from the previous month. From the perspective of major industries, the month-on-month price decreases narrowed in ferrous metal smelting and rolling processing, chemical raw materials and chemical products manufacturing, petroleum processing, and oil and natural gas extraction industries, which fell by 1.3%, 1.0%, 0.4%, and 0.3% respectively; month-on-month The declines expanded in the ferrous metal mining and processing, non-ferrous metal smelting and rolling processing industries, which fell by 4.1% and 0.9% respectively; the coal mining and washing industry prices turned from rising to falling month-on-month, falling by 0.6%.
On average from January to May, the ex-factory price of industrial producers increased by 6.8% year-on-year, and the purchasing price of industrial producers increased by 9.0% year-on-year.
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