In December 2021, Producer Price Index (PPI) for manufactured goods rose by 10.3 percent year-on-year and dropped by 1.2 percent month on month; the purchase price of industrial producers increased by 14.2 percent year-on-year and decreased by 1.3 percent month on month. In 2021, on average, the producer price of industrial products increased by 8.1 percent over the same period last year, and the purchasing price of industrial products increased by 11.0 percent.
1. Year-on-Year Changes of Prices of Different Categories
Among the PPI for manufactured goods, the year-on-year producer prices for means of production increased by 13.4 percent, affecting the overall level of producer price of industrial products up by about 10.07 percentage points. Among them, the price of mining industry increased by 44.2 percent, the price of raw material industry increased by 19.7 percent, and the price of processing industry increased by 8.2 percent. The price of means of consumer goods rose by 1.0 percent, affecting the overall level of producer price of industrial products up by about 0.25 percentage point. Among them, the prices of food and general daily necessities increased by 1.4 percent, the price of clothing increased by 1.0 percent, and the price of durable consumer goods increased by 0.4 percent.
Among the purchaser prices of industrial products, the prices of fuel and power increased by 35.5 percent, that of chemical raw materials increased by 20.5 percent, that of non-ferrous metal materials and wires increased by 19.0 percent, and that of ferrous metal materials increased by 14.0 percent.
2. Month-on-Month Changes of Prices of Different Categories
Among the PPI for manufactured goods, the price of means of production decreased by 1.6 percent, affecting the overall level of producer price of industrial products down by about 1.21 percentage points. Among them, the price of mining industry decreased by 6.8 percent, that of raw materials industry decreased by 1.7 percent, and that of processing industry decreased by 0.9 percent. The price of means of consumer goods was flat. Among them, the prices of food and general daily necessities increased by 0.1 percent, that of clothing decreased by 0.3 percent, and that of durable consumer goods decreased by 0.1 percent.
Among the purchaser prices of industrial products, the prices of fuel and power decreased by 3.8 percent, that of ferrous materials decreased by 2.2 percent, that of chemical raw materials decreased by 1.7 percent, and that of non-ferrous metal materials and wires decreased by 1.4 percent.