Manufacturing prices of chemical raw materials and products fell by 3.7% month-on-month in August

The national PPI (Industrial Producer Price Index) data for August 2022 released by the National Bureau of Statistics on September 9 shows that in August, due to the transmission of international crude oil, non-ferrous metals and other commodity price fluctuations and weak market demand in some domestic industries, etc. Affected by various factors, the price trend of industrial products declined as a whole. The month-on-month decline of the national PPI narrowed slightly, and the year-on-year increase continued to fall.

In August 2022, the national ex-factory price for industrial producers increased by 2.3% year-on-year and decreased by 1.2% month-on-month; the purchase price of industrial producers increased by 4.2% year-on-year and decreased by 1.4% month-on-month.

On a month-on-month basis, among the major upstream industries, the price of oil and natural gas mining industry decreased by 7.3%, the price of petroleum coal and other fuel processing industry decreased by 4.8%, the price of coal mining and washing industry decreased by 4.3%, and the price of chemical raw materials and chemical products manufacturing industry decreased by 4.3%. Down 3.7%.

On a year-on-year basis, among the major upstream industries, the price of coal mining and washing industry rose by 8.6%, the price of oil and gas extraction industry rose by 35%, the price of petroleum coal and other fuel processing industry rose by 21.3%, and the price of chemical raw materials and chemical products manufacturing industry rose by 21.3%. It rose by 4.5%, and the increase has declined, which partially relieved the cost pressure of mid-stream and downstream enterprises.