2026年1月工业生产者出厂价格同比降幅收窄 环比涨幅扩大

Core Viewpoint - In January 2026, the Producer Price Index (PPI) for industrial producers in China showed a year-on-year decline of 1.4%, with a month-on-month increase of 0.4%, indicating a narrowing decline compared to the previous month [1][9]. Group 1: Year-on-Year Changes - The PPI for industrial producers decreased by 1.4% year-on-year, with the decline narrowing by 0.5 percentage points from the previous month [1][9]. - The prices of production materials fell by 1.3%, contributing approximately 1.06 percentage points to the overall decline in the PPI [3]. - The mining industry experienced a significant price drop of 8.1%, while raw material prices decreased by 2.0% and processing industry prices fell by 0.4% [3][9]. Group 2: Month-on-Month Changes - The PPI for industrial producers increased by 0.4% month-on-month, with production materials prices rising by 0.5%, contributing approximately 0.37 percentage points to the overall increase [1][8]. - The mining industry prices decreased by 1.7% month-on-month, while raw materials prices increased by 0.7% and processing industry prices rose by 0.5% [8][9]. - The prices of life materials saw a slight increase of 0.1%, with food prices decreasing by 0.1% and durable consumer goods prices increasing by 0.3% [8][9]. Group 3: Specific Price Changes - In the category of industrial producers' purchase prices, fuel and power prices fell by 7.1%, while chemical raw materials prices decreased by 5.8% [7][10]. - Prices for non-ferrous metal materials and wires increased by 16.1%, indicating a significant rise in this category [7][10]. - The prices of agricultural and sideline products rose by 0.7%, while building materials and non-metallic materials prices decreased by 0.6% [8][10].