National Bureau of Statistics: July PPI rose 3.5% year-on-year.

On August 9, data from the National Bureau of Statistics showed that in July 2026, the national industrial producer price index increased by 3.5% year-on-year and decreased by 0.7% month-on-month. The purchase price index for industrial producers rose by 5.5% year-on-year and fell by 1.0% month-on-month. On average, from January to July, the industrial producer price index increased by 1.8% compared to the same period last year, and the purchase price index rose by 2.8%. I. Year-on-Year Changes in Industrial Producer Prices In July, among the industrial producer ex-factory prices, the prices of production materials increased by 4.8% year-on-year, contributing approximately 3.72 percentage points to the overall increase in the industrial producer ex-factory price level. Among these, the price in the mining industry rose by 16.4%, prices in the raw materials industry increased by 6.1%, and prices in the processing industry rose by 3.1%. Prices for consumer goods decreased by 0.8%, resulting in a decline of approximately 0.17 percentage points in the overall level of industrial producer ex-factory prices. Specifically, food prices fell by 2.1%, clothing prices dropped by 1.1%, prices for general daily necessities decreased by 1.0%, and prices for durable consumer goods increased by 0.4%. In the industrial producer purchased prices, the prices for non-ferrous metal materials and wires rose by 19.0%, while prices for energy fuels and chemical raw materials both increased by 9.3%. Prices for textile raw materials rose by 3.2%, and prices for ferrous metal materials increased by 1.4%. However, prices for building materials and non-metallic materials decreased by 4.1%, and prices for agricultural and sideline products dropped by 0.8%. II. Month-on-Month Changes in Industrial Producer Prices In July, among the industrial producer ex-factory prices, the prices of production materials fell by 0.9% month-on-month, contributing to a decline of approximately 0.70 percentage points in the overall industrial producer ex-factory price level. Specifically, the price in the mining industry decreased by 0.2%, prices in the raw materials industry fell by 2.4%, and prices in the processing industry dropped by 0.1%. Prices for consumer goods decreased by 0.1%, resulting in a decline of approximately 0.01 percentage points in the overall level of industrial producer ex-factory prices. In this case, both food and durable consumer goods prices remained unchanged, while clothing prices dropped by 0.3% and prices for general daily necessities fell by 0.2%. In the industrial producer purchased prices, prices for energy fuels and chemical raw materials both decreased by 2.6%. The prices for non-ferrous metal materials and wires fell by 1.4%, prices for ferrous metal materials and textile raw materials decreased by 0.2%, and prices for building materials and non-metallic materials dropped by 0.1%. Conversely, prices for agricultural and sideline products increased by 0.5%. This article is adapted from the official website of the National Bureau of Statistics, GMTEight editor: Liu Jiayin.