According to the National Bureau of Statistics on January 12 news, in December 2023, the national industrial producer prices fell 2.7% year-on-year, down 0.3% month-on-month; The purchase prices of industrial producers fell 3.8% year-on-year and 0.2% month-on-month. For the whole year of 2023, the ex-factory price of industrial producers fell by 3.0% and the purchase price of industrial producers fell by 3.6%.

I. Year-on-year changes in industrial producer prices in December

Among the ex-factory prices of industrial producers, the prices of means of production fell by 3.3%, affecting the overall level of ex-factory prices of industrial producers to fall by about 2.44 percentage points. Among them, the prices of the extractive industry fell by 7.0 percent, the prices of the raw materials industry fell by 2.8 percent, and the prices of the processing industry fell by 3.2 percent. The price of means of living fell by 1.2%, affecting the overall level of producer prices to fall by about 0.30 percentage points. Among them, food prices fell 1.4 percent, clothing prices rose 0.1 percent, general commodity prices fell 0.1 percent, and durable consumer goods prices fell 2.2 percent.

Among the purchasing prices of industrial producers, the prices of building materials and non-metals fell by 7.6%, the prices of fuel and power fell by 7.2%, the prices of agricultural and sideline products fell by 7.0% and the prices of chemical raw

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materials fell by 6.1%. Prices of ferrous materials were flat; Prices for non-ferrous materials and wires rose 1.6 percent.

Second, the change of industrial producer prices in December

Among the ex-factory prices of industrial producers, the prices of means of production fell by 0.3%, affecting the overall level of ex-factory prices of industrial producers to fall by about 0.22 percentage points. Among them, the prices of the extractive industry fell by 1.1%, the prices of the raw material industry fell by 0.5%, and the prices of the processing industry fell 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 0.03 percentage points. Among them, food prices fell 0.3 percent, clothing and general daily necessities prices fell 0.2 percent, and durable consumer goods prices rose 0.1 percent.

Among the purchasing prices of industrial producers, the prices of agricultural and sideline products fell by 1.0%, the prices of chemical raw materials fell by 0.7%, the prices of fuel and power plants fell by 0.5%, and the prices of non-ferrous metal materials and wires fell by 0.1%. Prices for ferrous materials rose 0.7 percent, while prices for building materials and non-metals rose 0.3 percent.