中国1月PPI同比下降1.4%，环比上涨0.4%

Group 1 - In January 2026, the national industrial producer price index (PPI) decreased by 1.4% year-on-year, with the decline narrowing by 0.5 percentage points compared to the previous month; month-on-month, it increased by 0.4%, with the increase expanding by 0.2 percentage points from the previous month [1] - The producer prices for production materials fell by 1.3%, contributing approximately 1.06 percentage points to the overall decline in the industrial producer price level; within this, mining industry prices dropped by 8.1%, raw materials prices decreased by 2.0%, and processing industry prices fell by 0.4% [2] - The prices for living materials decreased by 1.7%, impacting the overall industrial producer price level by about 0.38 percentage points; food prices fell by 1.9%, clothing prices decreased by 0.7%, and prices for general daily goods and durable consumer goods both declined by 1.8% [2] Group 2 - Month-on-month, the producer prices for production materials increased by 0.5%, contributing approximately 0.37 percentage points to the overall increase in the industrial producer price level; mining industry prices decreased by 1.7%, while raw materials and processing industry prices rose by 0.7% and 0.5%, respectively [3] - The prices for living materials increased by 0.1%, contributing about 0.01 percentage points to the overall increase; food prices decreased by 0.1%, clothing prices fell by 0.3%, while durable consumer goods prices rose by 0.3% [3] - In terms of purchasing prices, the prices for non-ferrous metals and wire increased by 4.5%, while agricultural products rose by 0.7% and chemical raw materials by 0.1%; however, fuel and power prices decreased by 0.7%, and building materials and non-metallic prices fell by 0.6% [3]