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China's PPI down 2.8% in Oct

Nov. 12, 2012 (China Knowledge) - China's producer price index (PPI), an indicator of the factory-gate prices of industrial products, decreased 2.8% in October compared with the same month of 2011, said the National Bureau of Statistics last Friday.
According to a statement, the PPI last month edge up 0.2% from September.

Last month, prices of production materials grew 0.2% MoM or down 3.7% from a year earlier. Prices of products in the mining sector increased 0.7% MoM or down 6.4% YoY. Prices of products in the raw materials rose 0.5% from the previous month or decline 3.4% YoY, and prices of products in the processing industry remained flat from a month earlier or down 3.5% YoY.

Prices of consumer goods edge up 0.1% from the previous month or went up 0.2% compared with the corresponding period of last year. On YoY basis, there was a 0.3% rise in food prices, and a 1.6% increase in the price of clothing. Prices of daily consumer goods rose 0.5% YoY, but prices of consumer durables went down 1% YoY.

In October, the purchase prices of industrial producers grew 0.1% MoM or decrease 3.3% YoY. The prices of nonferrous metal materials rose 0.5% YoY or down 3.1% YoY. The purchase prices of fuel and power edge up 0.1% compared with September 2012 or decrease 1.5% from a year earlier.

In the first ten months, the country's PPI dropped 1.6% YoY and the purchase prices of industrial producers fell 1.7%.

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