Spokesperson for the National Bureau of Statistics, Fu Linghui: The improvement of industrial producer prices mainly is due to the expansion of demand in some domestic industries and the growth of new driving forces which have driven up the prices of industrial products.

The State Council Information Office held a press conference at 10 a.m. on March 16. Fu Linghui, spokesperson for the National Bureau of Statistics, Chief Economist, and Director of the Department of Comprehensive Economic Statistics, stated that in recent times, the risk of geopolitical conflicts has increased, leading to significant fluctuations in international oil prices and causing concerns about market price trends. So far this year, industrial producer prices have shown a narrowing decline on a year-on-year basis, with a 0.9% decrease in February's Producer Price Index compared to the previous month, a decrease of 0.5 percentage points. This marks the third consecutive month of narrowing year-on-year declines. Looking at the month-on-month comparison, industrial producer prices have shown a continuous increase for five months. The improvement in industrial producer prices is mainly due to increased demand in some domestic industries, the growth of new driving forces leading to industrial product price increases, and the rise in prices of some international commodities, all of which have collectively contributed to this positive trend.