Core Insights - In September 2025, the national industrial producer price index (PPI) decreased by 2.3% year-on-year, with the decline 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 showed a decline of 2.8% compared to the same period last year [1] Group 1: Year-on-Year Changes - The prices of production materials decreased by 2.4%, contributing approximately 1.81 percentage points to the overall decline in the PPI [3] - The mining industry saw a significant price drop of 9.0%, while raw materials and processing industries experienced declines of 2.9% and 1.7%, respectively [3] - Prices for living materials fell by 1.7%, impacting the overall PPI by about 0.45 percentage points, with food prices down by 1.7% and durable goods prices down by 3.9% [3] Group 2: Month-on-Month Changes - In September, the PPI for production materials remained stable, with mining prices increasing by 1.2% and processing prices decreasing by 0.1% [8] - Living material prices decreased by 0.2%, with food prices down by 0.1% and durable goods prices down by 0.4% [8] - In the industrial purchase price index, prices for non-ferrous metals and wires increased by 1.2%, while fuel and power prices rose by 0.5% [8]