China's National Bureau of Statistics: July industrial producer gate prices down 0.8% from a year earlier - China report

According to data recently released by the National Bureau of Statistics of China, industrial producer gate prices in July fell 0.8% year-on-year and 0.2% month-on-month, both of which were the same as the previous month.
Industrial producer purchase prices were down 0.1% both compared to the same month last year and the previous month. Looking at the average prices for January to July, industrial producer shipment prices were down 2.0% compared to the same period last year, and industrial producer purchase prices were down 2.
The industrial producers' gate prices fell by about 0.52 points due to the impact of a 0.7% fall in the price of production materials compared to the previous month.
Industrial prices increased by 3.5%, raw material prices increased by 1.8%, and processing prices decreased by 2.1%. In addition, due to a 1.0% drop in the price of daily necessities, industrial producers' gate prices increased by about 0.26%.
The decline was due to food prices dropping 0.7%, clothing prices dropping 0.5%, daily necessities prices dropping 0.3%, and durable consumer goods prices dropping 2.0%.
On the other hand, among the prices purchased by industrial producers, the prices of building materials and non-metallic materials decreased by 5.2%, the prices of ferrous metal materials decreased by 2.6%, and the prices of agricultural and secondary materials decreased by 2.4%.
Prices of produce fell 1.9%, textile raw materials fell 0.5%, non-ferrous metal materials and electric wires rose 11.3%, chemical raw materials rose 0.6%, and fuel (power) prices rose 0.5%.
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