Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website
Subscribe CustomBlackClose

Belt & Road Weekly Subscription Form

download_pop

Research ReportCustomBlackClose

The full edition of the report is available at Xinhua Silk Road Database. You can click the “Table of Content” to have a general understanding of it.

Click on the button below to create your account and get immediate access to thousands of articles.

Start a Free Trial

Xinhua Silk Road Database
Economy

China's factory-gate prices rise in September

October 14, 2021


Abstract : China's factory prices continued to pick up in September amid booming demand and rising prices of coal and products of energy-intensive industries, official data showed Thursday.

Workers assemble vehicles at the final assembly line of automobile maker FAW-Volkswagen in Changchun, northeast China's Jilin Province, Jan. 5, 2021. (Xinhua/Zhang Nan)

BEIJING, Oct. 14 (Xinhua) -- China's factory prices continued to pick up in September amid booming demand and rising prices of coal and products of energy-intensive industries, official data showed Thursday.

The producer price index (PPI), which measures costs for goods at the factory gate, went up 10.7 percent year on year in September, faster than the 9.5 percent year-on-year increase registered in August, the National Bureau of Statistics (NBS) said.

The carryover effect contributed around 1.8 percentage points to last month's PPI growth, the same as that in August. New price increases contributed 8.9 percentage points to the growth, up 1.2 percentage points from one month earlier, NBS data showed.

The faster expansion of PPI last month was due to the price rises in coal and products of some energy-intensive industries, said senior NBS statistician Dong Lijuan.

The price rises of energy raw materials were due to the combined impact of increased demand and declined supply, said Wen Bin, chief analyst at China Minsheng Bank.

With the accelerated recovery of China's economy and the advent of massive coal consumption season of autumn and winter, the demand for coal is relatively strong, he added.

He also noted that recent floods in Shanxi Province restricted coal production and transportation, which also strained the power supply.

Among the major sectors, coal mining and washing, oil and gas extraction, petroleum, coal and other fuel processing, chemical raw materials and product manufacturing, as well as ferrous and non-ferrous metal smelting and processing, contributed around 80 percent of the increase in PPI inflation in September, Dong said.

On a monthly basis, China's PPI rose 1.2 percent in September, up 0.5 percentage points from August.

Along with the PPI, NBS data also showed that China's consumer price index, a main gauge of inflation, rose 0.7 percent year on year in September.

The slower growth was partly driven by a drop in food prices, which declined 5.2 percent year on year last month. In particular, the price of pork, a staple meat in China, slumped 46.9 percent from a year earlier. ■

Scan the QR code and push it to your mobile phone

Keyword: PPI China economy

Reading:

Foreign institutions continue to add RMB-denominated bonds holdings in Sept.

Forum on traditional medicine and health tourism kicks off in S. China's Guangxi

TISI grows for the first time since April

FTI supports the opening up of Thailand to boost the tourism industry

​New growth drivers boost China's auto exports amid multiple challenges

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to [email protected] and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial

Ask Us A Question belt & road login close

If you have any questions, please enter them in the box below.

Identifying code Reload

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to silkroadweekly@xinhua.org and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial