China's industrial producer gate prices fell 3.6% year-on-year in July: Chinese report

According to data released by the National Bureau of Statistics, China's industrial producers' shipping prices in July fell 0.2% from the previous month and 3.6% from the same month last year.
This represents a decrease of 0.3% month-on-month and a decrease of 4.5% compared to the same month last year. Looking at the average prices for January to July, shipping prices fell 2.9% and purchasing prices fell 3.2% compared to the same period last year.
Looking at the July industrial producer shipping prices compared to the same month last year, shipping prices fell by about 3.20 points, affected by a 4.3% drop in production material prices.
Among purchasing prices, fuel and power prices fell 10.8%, ferrous metal materials prices fell 8.0%, and chemical industry prices fell 10.6%.
Prices of raw materials fell 6.5% year-on-year, prices of agricultural by-products fell 4.6% year-on-year, prices of building materials and non-metallic materials fell 3.8% year-on-year, prices of textile raw materials fell 2.5% year-on-year, and prices of non-ferrous metal materials and electrical wires fell 2.
Compared to the previous month, shipping prices fell by about 0.17 points due to a 0.2% fall in production material prices.
As a result, shipping prices fell by approximately 0.06 points. Among purchasing prices, construction materials and non-metallic materials prices fell by 1.4%, ferrous metal materials prices fell by 0.7%, and fuel and power prices fell by 0.
Prices of raw materials for the chemical industry decreased by 0.5%, prices of textile raw materials decreased by 0.1%, prices of agricultural by-products remained flat, and prices of non-ferrous metal materials and electrical wires increased by 0.7%.