National Bureau of Statistics: In May, the combined impact of six industries including non-ferrous metal ore mining and dressing industry on the year-on-year increase in PPI was about 2.56 percentage points.

Dong Lijuan, Chief Statistician of the Urban Department of the National Bureau of Statistics, interpreted the May 2026 PPI data. From a year-on-year perspective, national PPI rose by 3.9%, an increase of 1.1 percentage points from the previous month. Among the industries with price increases, the non-ferrous metal ore mining and dressing industry saw a year-on-year increase of 36.5%, non-ferrous metal smelting and processing industry rose by 24.0%, coal mining and washing industry increased by 10.0%, electrical machinery and equipment manufacturing industry increased by 4.5%, computer, communication and other electronic equipment manufacturing industry increased by 2.1%, and black metal smelting and processing industry increased by 1.0%. The combined impact of these six industries on the PPI contributed to an increase of approximately 2.56 percentage points year-on-year, an increase of 0.51 percentage points from the previous month. The petroleum and natural gas extraction industry, the petroleum, coal, and other fuel processing industry, and the chemical raw materials and chemical products manufacturing industry saw increases of 35.7%, 18.4%, and 12.7% respectively, with a combined impact of approximately 1.96 percentage points on the PPI year-on-year, an increase of 0.46 percentage points from the previous month. Among the industries with price decreases, the non-metallic mineral products industry decreased by 5.1%, the electricity, heat production and supply industry decreased by 4.4%, the automobile manufacturing industry decreased by 2.0%, and the agriculture and sideline food processing industry decreased by 1.4%. The combined impact of these industries led to a decrease of approximately 0.75 percentage points on the PPI year-on-year, an increase of 0.01 percentage points from the previous month.