2026年1月份，全国工业生产者出厂价格同比下降1.4%，降幅比上月收窄0.5个百分点；环比上涨0.4%，涨幅比上月扩大0.2个百分点。工业生产者购进 价格同比下降1.4%，降幅比上月收窄0.7个百分点；环比上涨0.5%，涨幅比上月扩大0.1个百分点。 1月份，工业生产者出厂价格中，生产资料价格下降1.3%，影响工业生产者出厂价格总水平下降约1.06个百分点。其中，采掘工业价格下降8.1%，原材 料工业价格下降2.0%，加工工业价格下降0.4%。生活资料价格下降1.7%，影响工业生产者出厂价格总水平下降约0.38个百分点。其中，食品价格下降 1.9%，衣着价格下降0.7%，一般日用品、耐用消费品价格均下降1.8%。 一、工业生产者价格同比变动情况 工业生产者购进价格中，燃料动力类价格下降7.1%，化工原料类价格下降5.8%，建筑材料及非金属类价格下降4.7%，黑色金属材料类、农副产品类价 格均下降2.9%，纺织原料类价格下降2.2%；有色金属材料及电线类价格上涨16.1%。 二、工业生产者价格环比变动情况 1月份，工业生产者出厂价格中，生产资料价格上涨0.5%，影响工业生产者出厂价格总水平上涨约0.37个百分 ...

Core Viewpoint - In December 2025, the national industrial producer price index (PPI) showed a year-on-year decline of 1.9%, with a month-on-month increase of 0.2%, indicating a narrowing of the decline compared to the previous month [1][10]. Group 1: Year-on-Year Changes - In December, the producer prices for industrial producers saw a decrease in production materials by 2.1%, contributing approximately 1.53 percentage points to the overall decline in producer prices [4]. - The mining industry experienced a price drop of 4.7%, while raw materials and processing industries saw declines of 2.6% and 1.6%, respectively [4]. - Consumer goods prices fell by 1.3%, with food prices down by 1.5% and durable goods prices down by 3.5% [4][11]. Group 2: Month-on-Month Changes - In December, the producer prices for industrial producers increased by 0.2%, with production materials rising by 0.3%, contributing approximately 0.24 percentage points to the overall increase [8]. - The mining industry saw a month-on-month price increase of 0.8%, while raw materials and processing industries increased by 0.6% and 0.2%, respectively [8]. - Consumer goods prices remained stable, with food prices slightly decreasing by 0.1% and general daily necessities increasing by 0.5% [8][11]. Group 3: Industrial Purchase Prices - The purchase prices for industrial producers showed a year-on-year decline of 2.1%, with a month-on-month increase of 0.4% [10][11]. - Significant declines were noted in building materials and non-metallic products by 6.4%, and fuel and power by 5.7% [7][11]. - Prices for non-ferrous metals and wires increased by 10.5%, indicating a contrasting trend within the industrial purchase prices [7].

Group 1: Yearly Overview - In December 2025, the national industrial producer's ex-factory prices decreased by 1.9% year-on-year, with a narrowing decline of 0.3 percentage points compared to the previous month; month-on-month, there was a 0.2% increase, which is an expansion of 0.1 percentage points from last month [1] - For the entire year of 2025, the industrial producer's ex-factory prices fell by 2.6%, while the industrial producer's purchase prices decreased by 3.0% [1] Group 2: Year-on-Year Changes - In December, the prices of production materials decreased by 2.1%, contributing approximately 1.53 percentage points to the overall decline in ex-factory prices; within this category, mining industry prices fell by 4.7%, raw materials industry prices decreased by 2.6%, and processing industry prices dropped by 1.6% [4] - The prices of living materials decreased by 1.3%, impacting the overall ex-factory price level by about 0.35 percentage points; food prices fell by 1.5%, clothing prices decreased by 0.1%, while general daily necessities prices increased by 1.4%, and durable consumer goods prices dropped by 3.5% [4] Group 3: Month-on-Month Changes - In December, the ex-factory prices of production materials increased by 0.3%, contributing approximately 0.24 percentage points to the overall increase in ex-factory prices; mining industry prices rose by 0.8%, raw materials industry prices increased by 0.6%, and processing industry prices went up by 0.2% [8] - Living materials prices remained stable; food prices decreased by 0.1%, clothing prices increased by 0.2%, general daily necessities prices rose by 0.5%, and durable consumer goods prices fell by 0.2% [8] Group 4: Purchase Price Changes - In the industrial producer's purchase prices, building materials and non-metallic prices decreased by 6.4%, fuel and power prices fell by 5.7%, chemical raw materials prices dropped by 4.9%, agricultural products prices decreased by 4.1%, black metal materials prices fell by 3.3%, and textile raw materials prices decreased by 1.9%; however, prices for non-ferrous metal materials and wires increased by 10.5% [7]

Group 1 - In August 2020, the national industrial producer price index (PPI) decreased by 2.0% year-on-year and increased by 0.3% month-on-month; the industrial producer purchase price index (PPPI) decreased by 2.5% year-on-year and increased by 0.6% month-on-month [1] - From January to August, the average industrial producer ex-factory price decreased by 2.0% compared to the same period last year, while the industrial producer purchase price decreased by 2.7% [1] - The prices of production materials decreased by 3.0% year-on-year, with the mining industry prices down by 5.8%, raw materials industry prices down by 6.4%, and processing industry prices down by 1.4% [1] Group 2 - In August, the prices of living materials increased by 0.6% year-on-year, with food prices up by 3.1%, clothing prices down by 1.3%, general daily necessities down by 0.4%, and durable consumer goods down by 1.5% [1] - The purchase prices of fuel and power decreased by 9.8%, chemical raw materials by 8.4%, and black metal materials by 0.5%; however, agricultural and sideline products increased by 6.3% and non-ferrous metal materials and wires by 2.9% [1] Group 3 - Month-on-month, the industrial producer ex-factory price increased by 0.4%, with mining prices up by 1.6%, raw materials prices up by 0.5%, and processing prices up by 0.2% [1] - The prices of living materials increased by 0.1% month-on-month, with food prices up by 0.2%, clothing prices down by 0.2%, general daily necessities up by 0.5%, and durable consumer goods down by 0.4% [1]

Group 1: Core Insights - In November, the producer price index for industrial producers showed a decline in production material prices by 2.4%, contributing approximately 1.79 percentage points to the overall decrease in producer prices [2] - The prices in the extraction industry fell by 6.1%, while raw material prices decreased by 2.9% and processing industry prices dropped by 1.9% [2] - Consumer goods prices decreased by 1.5%, impacting the overall producer price index by about 0.38 percentage points, with food prices down by 1.5% and durable goods prices down by 3.6% [2] Group 2: Year-on-Year Changes - The year-on-year changes in producer prices indicated a 2.2% overall decline, with production materials down by 2.4% and consumer goods down by 1.5% [10] - Specific declines included extraction prices down by 6.1%, raw materials down by 2.9%, and processing down by 1.9% [10] - Notably, the price of general daily necessities increased by 1.1%, while durable consumer goods saw a significant drop of 3.6% [10] Group 3: Month-on-Month Changes - In November, the month-on-month producer price index showed a slight increase of 0.1% in production materials, contributing approximately 0.08 percentage points to the overall increase [7] - The extraction industry prices rose by 1.7%, while raw materials saw a minor decrease of 0.2% [7] - Consumer goods prices remained stable, with food prices down by 0.1% and clothing prices up by 0.1% [7] Group 4: Purchase Price Changes - The purchase prices for industrial producers indicated a decline of 2.5% year-on-year, with fuel and power prices down by 6.9% and building materials down by 5.8% [10] - In contrast, prices for non-ferrous metals and wires increased by 8.1%, reflecting a significant rise in this category [10] - Month-on-month changes showed a slight increase of 0.1% in overall purchase prices, with notable increases in non-ferrous metals by 1.8% and building materials by 0.2% [8]

Core Insights - In October 2025, the national industrial producer's ex-factory prices decreased by 2.1% year-on-year, with a narrowing decline of 0.2 percentage points compared to the previous month; month-on-month, it shifted from flat to an increase of 0.1% [1] - The average industrial producer's ex-factory prices from January to October fell by 2.7% year-on-year, while the purchase prices decreased by 3.2% [1] Year-on-Year Changes in Industrial Producer Prices - In October, the prices of production materials dropped by 2.4%, contributing approximately 1.77 percentage points to the overall decline in ex-factory prices. The mining industry saw a price drop of 7.8%, raw materials decreased by 2.5%, and processing industry prices fell by 1.9% [3] - Consumer goods prices decreased by 1.4%, impacting the overall ex-factory price level by about 0.36 percentage points. Food prices fell by 1.6%, while clothing prices decreased by 0.3% [3] Month-on-Month Changes in Industrial Producer Prices - In October, the prices of production materials increased by 0.1%, contributing approximately 0.08 percentage points to the overall increase in ex-factory prices. The mining industry prices rose by 1.0%, while raw materials remained flat and processing industry prices increased by 0.1% [8] - Consumer goods prices remained stable, with food and clothing prices each declining by 0.1%, while general consumer goods prices increased by 0.7% [8] Purchase Price Changes - In the purchase prices, fuel and power prices decreased by 7.4%, agricultural and sideline products fell by 5.2%, and chemical raw materials dropped by 5.0%. However, prices for non-ferrous metal materials and wires increased by 7.5% [7] - Month-on-month, non-ferrous metal materials and wires saw a price increase of 2.4%, while agricultural products decreased by 1.3% and chemical raw materials fell by 0.6% [9] Key Industry Price Changes - The coal mining and washing industry experienced a significant year-on-year price drop of 15.6%, while the oil and gas extraction industry saw a decline of 8.4% [11] - The non-ferrous metal mining industry had a notable price increase of 18.9% year-on-year, indicating a strong performance compared to other sectors [11]

Group 1 - In September, the producer price index for industrial producers showed a decline in the prices of production materials by 2.4%, contributing approximately 1.81 percentage points to the overall decrease in producer prices [2] - The prices in the extraction industry fell by 9.0%, while raw materials and processing industries saw declines of 2.9% and 1.7%, respectively [2] - Prices for living materials decreased by 1.7%, impacting the overall producer price index by about 0.45 percentage points, with food prices down by 1.7% and durable consumer goods down by 3.9% [2] Group 2 - Year-on-year changes in the producer price index indicated a 0.0% change in the overall producer price index, with a 2.3% decline compared to the previous year [10] - The producer price index for production materials showed a 3.3% year-on-year decrease, with specific declines in extraction (9.9%), raw materials (3.6%), and processing (2.6%) [10] - Living materials experienced a year-on-year decline of 1.5%, with food prices down by 1.6% and durable consumer goods down by 3.3% [10] Group 3 - In terms of month-on-month changes, the producer price index for industrial producers remained stable, with extraction prices increasing by 1.2% and processing prices decreasing by 0.1% [7] - Living materials saw a slight decrease of 0.2%, with food prices down by 0.1% and durable consumer goods down by 0.4% [7] - The purchase price index for industrial producers showed a 0.1% increase month-on-month, with notable increases in non-ferrous metal materials and electrical wire prices by 1.2% [8]

Group 1: Year-on-Year Changes in Industrial Producer Prices - In September, the producer prices for industrial producers saw a decline of 2.3% year-on-year, with production materials prices decreasing by 2.4%, contributing approximately 1.81 percentage points to the overall decline [8][11] - The mining industry experienced a significant price drop of 9.0%, while raw materials and processing industries saw decreases of 2.9% and 1.7%, respectively [8][10] - Consumer goods prices also fell by 1.7%, with food prices down by 1.7% and durable goods prices decreasing by 3.9% [8][10] Group 2: Month-on-Month Changes in Industrial Producer Prices - In September, the producer prices for industrial producers remained flat month-on-month, with production materials prices unchanged [7][10] - The mining industry prices increased by 1.2%, while processing industry prices saw a slight decline of 0.1% [7][10] - Consumer goods prices decreased by 0.2%, with durable goods prices down by 0.4% [7][10] Group 3: Industrial Producer Purchase Prices - The purchase prices for industrial producers decreased by 3.1% year-on-year, with fuel and power prices dropping by 8.1% [10][12] - Notably, prices for non-ferrous metals and wires increased by 6.6% year-on-year [10][12] - Month-on-month, purchase prices increased by 0.1%, driven by a 1.2% rise in non-ferrous metals and wires [10][12] Group 4: Key Industry Price Changes - The coal mining and washing industry saw a year-on-year price drop of 16.8%, while the oil and gas extraction industry experienced an 8.6% decline [10][12] - The non-ferrous metal mining industry reported a year-on-year price increase of 13.9% [10][12] - The food manufacturing industry experienced a slight decline of 1.3% year-on-year [10][12]

Group 1: Year-on-Year Changes in Industrial Producer Prices - In July, the prices of production materials decreased by 4.3%, contributing approximately 3.20 percentage points to the overall decline in industrial producer prices [2] - The mining industry saw a significant price drop of 14.0%, while raw materials and processing industries experienced declines of 5.4% and 3.1%, respectively [2] - Consumer goods prices fell by 1.6%, with food prices down by 1.8% and durable goods prices down by 3.5% [2] Group 2: Month-on-Month Changes in Industrial Producer Prices - In July, the month-on-month prices of production materials decreased by 0.2%, impacting the overall industrial producer price level by approximately 0.17 percentage points [7] - The mining industry prices decreased by 0.2%, while raw materials and processing industries saw declines of 0.1% and 0.3%, respectively [7] - Consumer goods prices also fell by 0.2%, with food prices remaining stable and durable goods prices decreasing by 0.6% [7] Group 3: Industrial Producer Purchase Prices - The purchase prices for fuel and power decreased by 10.8%, while black metal materials and chemical raw materials saw declines of 8.0% and 6.5%, respectively [6] - Prices for agricultural products decreased by 4.6%, and construction materials and non-metallic materials fell by 3.8% [6] - Prices for non-ferrous metal materials and wires increased by 2.8% [6] Group 4: Key Industry Price Changes - The coal mining and washing industry experienced a price drop of 23.0%, while the oil and natural gas extraction industry saw a decrease of 12.6% [10] - The black metal mining industry prices fell by 9.1%, whereas the non-ferrous metal mining industry prices increased by 11.1% [10] - The food manufacturing industry prices decreased by 1.1%, while the beverage and refined tea manufacturing industry prices remained stable [10]

Core Insights - In June 2025, the national industrial producer's ex-factory prices decreased by 3.6% year-on-year and 0.4% month-on-month, while the purchase prices decreased by 4.3% year-on-year and 0.7% month-on-month [1][10]. Group 1: Year-on-Year Changes - In June, the ex-factory prices of industrial producers saw a decline in production materials by 4.4%, contributing approximately 3.26 percentage points to the overall decrease. The mining industry prices fell by 13.2%, raw materials by 5.5%, and processing industry prices by 3.2% [4]. - The prices of living materials decreased by 1.4%, impacting the overall ex-factory price by about 0.35 percentage points. Food prices dropped by 2.0%, while clothing prices increased by 0.1% and durable goods prices decreased by 2.7% [4]. - The purchase prices of industrial producers showed a significant decline in fuel and power categories by 10.4%, black metal materials by 8.0%, and chemical raw materials by 6.2% [7]. Group 2: Month-on-Month Changes - In June, the ex-factory prices of industrial producers decreased by 0.6% for production materials, contributing approximately 0.42 percentage points to the overall decline. The mining industry prices fell by 1.2%, raw materials by 0.7%, and processing industry prices by 0.5% [8]. - Living materials prices saw a slight decrease of 0.1%, with food prices down by 0.3% and durable goods prices down by 0.1% [8]. - The purchase prices of industrial producers decreased by 0.7%, with notable declines in fuel and power categories by 2.0% and black metal materials by 1.1% [9]. Group 3: Key Industry Price Changes - The coal mining and washing industry experienced a significant year-on-year price drop of 21.8%, while the oil and natural gas extraction industry saw a decrease of 12.6% [9]. - The non-metallic mining industry prices fell by 1.3%, and the agricultural and food processing industry prices decreased by 3.7% [9]. - In contrast, the prices in the non-ferrous metal mining industry increased by 12.0% year-on-year [9].