In October 2023, the national industrial producer prices fell by 2.6% year-on-year, unchanged from the previous month. The purchase prices of industrial producers decreased by 3.7% year-on-year and increased by 0.2% month-on-month. From January to October, the average price at the factory gate fell by 3.1 percent and the purchase price at the factory gate fell by 3.6 percent.
In October, the prices of the means of production fell by 3.0%, affecting the overall level of producer prices to fall by about 2.35 percentage points. Among them, the price of the extractive industry fell by 6.2%, the price of the raw material industry fell by 2.3%, and the price of the processing industry fell by 3.0%. The price of means of living fell by 0.9%, affecting the overall level of industrial producer prices to fall by about 0.24 percentage points. Among them, food prices fell by 1.2%, clothing and general daily necessities prices rose by 0.4%, and durable consumer goods prices fell by 2.0%. Among the purchasing prices of industrial producers, the prices of building materials and non-metals fell by 7.3%, the prices of fuel and power fell by 6.7%, the prices of chemical raw materials fell by 6.3%, the prices of agricultural and sideline products fell by 6.2%, and the prices of ferrous metal materials fell by 2.1%. Prices for non-ferrous materials and wires rose 3.7 percent.
In October, the month-on-month changes in industrial producer prices, the price of means of production rose by 0.1%, affecting the overall level of industrial producer prices to rise by about 0.08 percentage points. Among them, the prices of the extractive industry increased by 2.4%, the prices of the raw material industry increased by 0.4%, and the prices of the processing industry decreased by 0.2%. The 0.1% drop in the price of means of subsistence affected the overall level of producer prices to fall by about 0.04 percentage points. Among them, food prices fell 0.3%, clothing prices rose 0.1%, prices of general daily necessities were flat, and prices of durable consumer goods fell 0.1%. Among the purchasing prices of industrial producers, the price of fuel and power rose by 1.4%, the price of chemical raw materials rose by 1.0%, and the price of ferrous metal materials rose by 0.2%. Prices of agricultural and sideline products fell by 0.7%, and prices of non-ferrous metal materials and wires, building materials and non-metals all fell by 0.3%.
