In March 2024, the producer prices fell by 2.8% year-on-year and 0.1% month-on-month. The purchasing prices of industrial producers decreased by 3.5% year-on-year and 0.1% month-on-month. In the first quarter of this year, the producer price at the factory gate was down 2.7%, and the purchasing price at the industrial producer was down 3.4%.

1. Year-on-year changes in industrial producer prices in March

AAR145-S50  Among the ex-factory prices of industrial producers, the prices of means of production fell by 3.5%, which affected the overall level of ex-factory prices of industrial producers by about 2.58 percentage points. Among them, the price of the extractive industry fell by 5.8%, the price of the raw material industry fell by 2.9%, and the price of the processing industry fell by 3.6%. The price of means of subsistence fell by 1.0%, affecting the overall level of producer prices to fall by about 0.26 percentage points. Among them, food prices fell 1.3 percent, clothing prices rose 0.3 percent, general daily necessities prices fell 0.1 percent, and consumer durables prices fell 1.8 percent.

Among the purchasing prices of industrial producers, the prices of building materials and non-metals fell by 7.2%, the prices of agricultural and sideline products fell by 6.0%, the prices of chemical raw materials fell by 5.4%, the prices of fuel and power products fell by 4.9%, and the prices of ferrous metal materials fell by 4.1%. Non-ferrous metal materials and wire prices rose 0.7%, and textile raw material prices rose 0.5%.

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Second, the change of industrial producer prices in March

Among the ex-factory prices of industrial producers, the price of means of production fell by 0.1%, affecting the overall level of ex-factory prices of industrial producers to fall by about 0.08 percentage points. Among them, the prices of the extractive industry decreased by 0.8%, the prices of the raw material industry increased by 0.3%, 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 0.4 percent, and the prices of clothing, general daily necessities and consumer AAR145-S50  durables were all unchanged.

Among the purchasing prices of industrial producers, the prices of ferrous metal materials fell by 1.6%, the prices of building materials, non-metals and agricultural and sideline products fell by 0.6%, and the prices of chemical raw materials fell by 0.1%. Non-ferrous metal materials and wire prices rose 0.8%, fuel and power prices rose 0.7%, and textile raw material prices rose 0.3%.