国家统计局：9月PPI同比下降2.3% 同比降幅继续收窄

Core Insights - In September 2025, the national industrial producer price index (PPI) showed a year-on-year decline of 2.3%, with the decrease narrowing by 0.6 percentage points compared to the previous month, while remaining stable month-on-month [1] - The average PPI from January to September 2025 decreased by 2.8% compared to the same period last year [1] Group 1: Year-on-Year Changes - The prices of production materials fell by 2.4%, contributing approximately 1.81 percentage points to the overall decline in the PPI [3] - 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 [3] - Consumer goods prices decreased by 1.7%, with food prices down by 1.7% and durable goods prices down by 3.9% [3][10] Group 2: Month-on-Month Changes - In September, the PPI for production materials remained unchanged, with mining prices increasing by 1.2% and processing prices decreasing by 0.1% [8] - Consumer goods prices fell by 0.2%, with food prices down by 0.1% and durable goods prices down by 0.4% [8] - The industrial purchase price index saw a month-on-month increase of 0.1%, with notable increases in non-ferrous metal materials and electrical wire prices by 1.2% [8][10] Group 3: Specific Price Changes - Fuel and power prices dropped by 8.1%, while chemical raw materials and agricultural products saw declines of 5.5% and 5.4%, respectively [7] - The prices of non-metallic building materials decreased by 4.5%, while non-ferrous metal materials and electrical wire prices increased by 6.6% [7][10] - The coal mining and washing industry saw a year-on-year price drop of 16.8%, while the non-ferrous metal mining industry experienced a price increase of 13.9% [10]