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China's PPI down 2.2% in Nov

Dec. 10, 2012 (China Knowledge) - China's producer price index (PPI), an indicator of the factory-gate prices of industrial products, decreased 2.2% in November compared with the same month of 2011, said the National Bureau of Statistics.
According to a statement, the PPI last month edge down 0.1% from October.

Last month, prices of production materials declined 0.1% MoM or 3.0% from a year earlier. Prices of products in the mining sector decreased 0.2% MoM or 5.3% YoY. Prices of products in the raw materials dropped 0.3% from the previous month or decline 2.7% YoY, and prices of products in the processing industry decreased 0.1% MoM or 2.9% YoY.

Prices of consumer goods remained flat from the previous month or went up 0.3% compared with the corresponding period of last year. On YoY basis, there was a 0.5% rise in food prices, and a 1.5% increase in the price of clothing. Prices of daily consumer goods rose 0.6% YoY, but prices of consumer durables went down 0.9% YoY.

In November, the purchase prices of industrial producers edge down 0.2% MoM or 2.8% YoY. The prices of nonferrous metal materials rose 0.3% YoY or down 9.5% YoY. The purchase prices of fuel and power decreased 0.2% compared with October 2012 or 1.6% from a year earlier.

In the first eleven months, the country's PPI dropped 1.7% YoY and the purchase prices of industrial producers fell 1.8%.

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