同比降幅收窄！2025年12月PPI继续向好｜快讯

Group 1 - In December 2025, the Producer Price Index (PPI) decreased by 1.9% year-on-year, with the decline narrowing by 0.3 percentage points compared to the previous month; month-on-month, it increased by 0.2%, expanding by 0.1 percentage points from the previous month, marking three consecutive months of increase [2] - The industrial producer purchase prices fell by 2.1% year-on-year, with the decline narrowing by 0.4 percentage points from the previous month; month-on-month, it rose by 0.4%, an increase of 0.3 percentage points from the previous month [2] - In 2025, the annual industrial producer ex-factory prices decreased by 2.6%, while the industrial producer purchase prices fell by 3.0% [2] Group 2 - The improvement in supply-demand structure in December led to price increases in certain industries, with coal mining and washing prices rising by 1.3% and 0.8% month-on-month, respectively, both increasing for five consecutive months; lithium-ion battery manufacturing prices rose by 1.0%, and cement manufacturing prices increased by 0.5%, both for three consecutive months [2] - Seasonal demand increases drove prices up in the gas production and supply industry and the electricity and heat production and supply industry, which rose by 1.2% and 1.0%, respectively [2] - The prices in the feather processing and wool textile dyeing and finishing industries increased by 1.2% and 1.0%, respectively [2] Group 3 - Input factors influenced the price trends in the domestic non-ferrous metals and petroleum-related industries, with domestic non-ferrous metal mining and smelting prices rising by 3.7% and 2.8% month-on-month, respectively, driven by international non-ferrous metal price increases; silver smelting, gold smelting, copper smelting, and aluminum smelting prices rose by 13.5%, 4.8%, 4.6%, and 0.9%, respectively [3] - Conversely, the decline in international crude oil prices affected domestic oil extraction and refined petroleum product manufacturing prices, which fell by 2.3% and 0.9%, respectively [3] - The year-on-year PPI decline of 1.9% showed a narrowing of the decline by 0.3 percentage points from the previous month, indicating positive changes in certain industries due to the effectiveness of ongoing macro policies [3]