China PPI

Data Prices

Source: National Bureau of Statistics China
Source Link: https://www.stats.gov.cn/
Frequency: Monthly
Next Release(s): October 14th, 2025 8:30 PM

Latest Updates

China’s industrial producer prices fell -0.2% MoM and -2.9% YoY (vs -2.9% YoY expected) in August 2025, while producer purchase prices were flat MoM and declined -4.0% YoY, with the YoY drop in ex-factory prices narrowing from July.
- Ex-factory prices for means of production dropped -3.2% YoY, led by extractive industries (-11.5% YoY), raw materials (-4.1% YoY), and processing (-2.2% YoY); means of living prices fell -1.7% YoY, with durable consumer goods down -3.7% YoY.
- Among purchases, fuel & power prices declined -9.7% YoY, chemical raw materials -6.2% YoY, and ferrous materials -5.6% YoY, while non-ferrous metals rose +4.7% YoY.
- On a MoM basis, means of production prices rose +0.1%, supported by extractive industries (+1.3% MoM) and raw materials (+0.2% MoM), while processing remained flat.
- Means of living prices edged down -0.1% MoM, with general daily necessities (-0.2% MoM) and durable consumer goods (-0.3% MoM) declining.
- Purchase prices showed mixed MoM moves: fuel & power (+0.7%), ferrous metals (+0.6%), and non-ferrous metals (+0.1%) rose, but building materials (-1.4%) and chemical raw materials (-0.4%) fell.
- By industry, coal mining & washing saw steep YoY declines (-19.8%), while oil & gas extraction (-9.7% YoY) and petroleum/coal processing (-10.5% YoY) also weakened; non-ferrous metal mining stood out with a strong +11.8% YoY rise.
- For Jan–Aug 2025, ex-factory prices averaged -2.9% YoY and purchase prices -3.3% YoY, underscoring persistent cost declines despite some stabilization in August.
Source
China’s industrial producer prices fell -0.2% MoM and -3.6% YoY in July 2025, while producer purchase prices declined -0.3% MoM and -4.5% YoY, with both showing narrower drops than in June.
- Ex-factory prices for means of production fell -4.3% YoY, led by extractive industries (-14.0%) and raw materials (-5.4%); means of living prices were down -1.6% YoY.
- Purchase prices saw steep YoY declines in fuel & power (-10.8%), ferrous metals (-8.0%), and chemical raw materials (-6.5%); non-ferrous metals rose +2.8% YoY.
- Coal mining & washing prices plunged -23.0% YoY, while oil & gas extraction fell -12.6% YoY; non-ferrous metal mining rose +11.1% YoY.
- Durable consumer goods prices dropped -0.6% MoM and -3.5% YoY, while general daily necessities rose +0.6% YoY despite a -0.2% MoM dip.
Source
China’s industrial producer prices fell -0.4% MoM and -3.6% YoY in June 2025, while producer purchase prices dropped -0.7% MoM and -4.3% YoY, extending broad-based deflation across sectors.
- Ex-factory prices for extractive industries fell -1.2% MoM and -13.2% YoY; processing industries declined -0.5% MoM and -3.2% YoY.
- Fuel and power purchase prices dropped -2.0% MoM and -10.4% YoY; chemical raw materials fell -0.7% MoM and -6.2% YoY.
- Non-ferrous metal materials and wires rose 0.3% MoM and 2.4% YoY, showing resilience within metals.
- Coal mining and washing prices plunged -3.4% MoM and -21.8% YoY; petroleum and coal processing fell -0.6% MoM and -13.5% YoY.
- Durable consumer goods prices declined -0.1% MoM and -2.7% YoY, while general daily necessities rose slightly (+0.1% MoM, +0.8% YoY).
Source
China’s industrial producer prices fell -0.4% MoM and -3.3% YoY in May 2025, while producer purchase prices dropped -0.6% MoM and -3.6% YoY, continuing broad-based industrial deflation.
- Ex-factory prices for extractive industries plunged -2.5% MoM and -11.9% YoY, while raw materials fell -0.9% MoM and -5.4% YoY.
- Fuel and power purchase prices dropped -2.1% MoM and -9.8% YoY; chemical raw materials fell -1.2% MoM and -5.4% YoY.
- Non-ferrous metal materials and wires rose 4.6% YoY despite a -0.1% MoM decline; this segment showed the strongest price momentum.
- The coal mining industry saw steep declines of -3.0% MoM and -18.2% YoY; petroleum and fuel processing dropped -3.1% MoM and -14.7% YoY.
- Durable consumer goods prices were flat MoM but fell -3.3% YoY; general daily necessities edged up 0.1% MoM and 0.6% YoY.
Source
China’s PPI fell -0.4% MoM and -2.7% YoY (vs -2.6% YoY expected) in April, while the purchase price index of industrial producers declined -0.6% MoM and -2.7% YoY, continuing the trend of industrial deflation seen in recent months.
- Ex-factory prices for extractive industries dropped -2.1% MoM and -9.4% YoY, while processing industries declined -0.2% MoM and -2.3% YoY.
- Among producer goods, consumer durables prices fell -0.7% MoM and -3.7% YoY, while foodstuff was down -0.1% MoM and -1.4% YoY.
- The steepest declines in purchasing prices were in fuel and power (-2.3% MoM, -7.7% YoY) and chemical raw materials (-0.7% MoM, -4.1% YoY).
- Coal mining (-3.3% MoM, -15.2% YoY) and oil & gas extraction (-3.1% MoM, -14.2% YoY) posted the most significant industry-level declines.
- Non-ferrous metal materials and wires rose 0.7% MoM and 8.5% YoY, while the non-ferrous metal mining and dressing industry was up 1.5% MoM and 19.0% YoY.
Source
China’s PPI fell -0.4% MoM and -2.5% YoY in March, marking continued deflation in industrial producer prices despite US tariffs being put in place.
- Purchasing prices of industrial producers declined -0.2% MoM and -2.4% YoY.
- Prices of production materials dropped -0.4% MoM and -2.8% YoY; mining prices saw the steepest monthly decline at -2.9% MoM.
- Consumer durables prices fell -1.0% MoM and -3.4% YoY, and food prices decreased -0.2% MoM and -1.4% YoY.
- Notable YoY industry-level declines include coal mining (-14.9%), oil and gas extraction (-8.5%), and ferrous metal smelting (-10.0%).
- In contrast, non-ferrous metal materials and wires rose 0.5% MoM and 10.8% YoY.
Source
China’s PPI fell -0.1% MoM and -2.2% YoY in February, slightly higher than -2.3% YoY in January.
- Production and mining PPI both fell, down -0.2% MoM and -1.3% Mom respectively.
- The largest monthly declines came from the agricultural industry (-0.7% MoM) and building materials (0.5% MoM)
Source
China’s PPI remained at a week -2.3% YoY in January, unchanged from December 2024 and below expectations of a -2.1% YoY reading.
- Monthly rates were weak across the board with production PPI down -0.2% MoM and consumer goods PPI flat.
- Producer prices were weak across industries as well with the largest declines in ferrous metal prices (-0.3% MoM) and agricultural prices (-0.4% MoM).
Source
China’s PPI was flat in December and saw a slight improvement in the annual rate from -2.5% YoY in November to -2.3% YoY. Both industrial and consumer goods producers continue to see a challenging price environment. PPI for production is down -2.6% YoY with most sectors seeing deflationary pressures. The deflation in the PPI for consumer goods has slowly fallen since the end of 2022 to just -1.4% YoY as demand has not supported product price growth.

Source