China's industrial producer gate prices fell 3.3% year-on-year in May: Chinese report

According to data released by the National Bureau of Statistics on the 9th, China's industrial producers' shipping prices in May fell 3.3% compared to the same month last year and 0.4% compared to the previous month.
Prices were down 3.6% compared to the same month last year and 0.6% compared to the previous month. Looking at the average prices from January to May, both shipping prices and purchase prices were down 2.6% compared to the same period last year.
Compared to the same month last year, the shipping price of production materials fell by 4.0%, causing the industrial producer shipping price to fall by about 2.98 points. Of these, the mining industry price fell by 11.9%.
%, raw material prices fell 5.4%, and processing prices fell 2.8%. In addition, due to the impact of a 1.4% drop in the price of daily necessities, industrial producers' shipping prices fell by about 0.36 percentage points.
Among these, food prices decreased by 1.4%, clothing prices remained flat, daily necessities prices increased by 0.6%, and durable consumer goods prices decreased by 3.3%.
Among procurement prices, fuel and power prices decreased by 9.8%, ferrous metal material prices decreased by 7.3%, and chemical
Prices of academic and industrial raw materials decreased by 5.4%, prices of agricultural by-products decreased by 2.6%, prices of textile raw materials decreased by 2.5%, prices of building materials and non-metallic materials decreased by 1.1%, and prices of non-ferrous metal materials and electric wires decreased by 2.5%.
Compared to the previous month, the price of production materials fell 0.6% and the industrial producers' shipping price fell by about 0.44 points.
Industrial prices fell 2.5%, raw material prices fell 0.9%, and processing prices fell 0.3%. Prices of daily necessities remained stable. Among them, food prices fell 0.1%, clothing prices fell 0.2%, and food prices fell 0.3%.
Prices of daily necessities and durable consumer goods increased by 0.1% each. Among purchase prices, fuel and power prices decreased by 2.1%, chemical raw materials prices decreased by 1.2%, and ferrous metals prices increased by 1.2%.
Prices of food materials decreased by 0.6%, prices of textile raw materials decreased by 0.4%, prices of building materials and non-metallic materials decreased by 0.2%, prices of non-ferrous metal materials and electric wires decreased by 0.1%, and prices of agricultural by-products remained flat.
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