The producer price index (PPI) in August rose by 6.1% YoY and 0.5% MoM due to the rising prices of steel products and non-ferrous metal Aluminum; industrial producer purchasing price (IPI) increased by 17.2% YoY in August and 1.1% MoM because of the rising prices of chemical raw materials and ferrous materials, according to the Huzhou investigation team of the National Bureau of Statistics.

14 of the 30 industries surveyed experienced MoM increase in producer price, among which the computer communication industry, electronic equipment manufacturing industry, smelting and pressing of non-ferrous metals and ferrous metals are taking the lead, up by 8%, 3.9% and 3.7% respectively, altogether exceeding the total index by 0.4%. Manufacturing of special equipment, chemical raw materials, chemical products, and non-metallic mineral products witnessed the biggest decline in producer prices, down by 1.6%, 0.9% and 0.6% MoM respectively, lowering down the overall index altogether by 0.1%.

In addition, the purchase prices of nine major categories of raw materials experienced “eight MoM increases and one fall”. Among them, the largest increases are seen in ferrous metal materials, chemical raw materials, non-ferrous metal materials and wires, up by 2.4%, 2% and 0.5% respectively, altogether pulling up the total index by 0.9 %.