China's industrial producer gate prices fell 2.9% year-on-year in August: Chinese report

According to data released by the National Bureau of Statistics, China's industrial producers' shipping prices in August fell 2.9% compared to the same month last year and 0.2% compared to the previous month.
This was a 4.0% decrease compared to the same month last year, but flat compared to the previous month. Looking at the average prices from January to August, shipping prices fell 2.9% compared to the same period last year, and purchasing prices fell 3.3%.
Looking at the August industrial producers' shipping prices compared to the same month last year, shipping prices fell by about 2.40 points due to a 3.2% drop in production material prices.
Due to the impact of a 1.7% drop in prices, shipping prices fell by approximately 0.45 points. Among purchasing prices, fuel and power prices fell by 9.7% year on year, chemical raw material prices fell by 6.2% year on year, and
Prices of ferrous metal materials decreased by 5.6%, agricultural by-product prices decreased by 5.6%, construction materials and non-metallic materials prices decreased by 4.7%, textile raw materials prices decreased by 2.0%, non-ferrous metal materials and electrical wire prices decreased by 2.0%.
This was a 4.7% increase. Compared to the previous month, shipping prices rose by approximately 0.08 points, affected by a 0.1% increase in production material prices. Prices of daily necessities fell 0.1%.
Among purchasing prices, construction materials and non-metallic goods prices fell 1.4% year on year, raw materials prices for the chemical industry fell 0.4% year on year, and agricultural by-products prices fell 0.5% year on year.
Prices decreased by 0.4%, fuel and power prices increased by 0.7%, ferrous metal material prices increased by 0.6%, non-ferrous metal material and electrical wire prices increased by 0.1%, and textile raw material prices increased by 0.1%.
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