国家统计局：9月份PPI同比下降2.3% 降幅继续收窄

Core Insights - The National Bureau of Statistics reported a year-on-year decline of 2.3% in the Producer Price Index (PPI) for industrial producers in September 2025, with the decline narrowing by 0.6 percentage points compared to the previous month [1] - The average PPI for January to September 2025 decreased by 2.8% compared to the same period last year [1] Group 1: Producer Prices - In September, the prices of production materials fell by 2.4%, contributing approximately 1.81 percentage points to the overall decline in the PPI [1] - The mining industry experienced a significant price drop of 9.0%, while raw materials and processing industries saw declines of 2.9% and 1.7%, respectively [1] Group 2: Purchasing Prices - The purchasing prices for industrial producers decreased by 3.1% year-on-year in September, with the decline narrowing by 0.9 percentage points from the previous month [1] - The average purchasing price for January to September 2025 fell by 3.2% compared to the same period last year [1] Group 3: Consumer Prices - In September, consumer goods prices decreased by 1.7%, impacting the overall PPI by approximately 0.45 percentage points [1] - Food prices dropped by 1.7%, while clothing prices decreased by 0.3%. Conversely, general daily necessities saw a price increase of 0.7%, and durable consumer goods prices fell by 3.9% [1]