National industrial product prices continued to rise in May

In May, due to the decline in the ex-factory price of major industrial products, the national factory price of industrial products continued to expand. Compared with the same month of last year, the ex-factory price of industrial products decreased by 7.2%, and the purchase price of raw materials, fuels and power decreased by 10.4%, which was 0.6 and 0.8 percentage points higher than that in April.

From the perspective of composition, the ex-factory prices of production materials and living materials continue to decline. In May, the ex-factory price of production materials fell by 8.8% compared with the same month of last year, and the decline was 0.7 percentage points higher than that in April, which affected the overall level of ex-factory prices of industrial products by about 6.7 percentage points. Among them, the ex-factory prices of extractive industry, raw material industry and processing industry products decreased by 21.8%, 10.9% and 6.2% respectively compared with the same month of last year, and the decline was 0.3, 0.6 and 0.8 percentage points higher than that in April 2009. The ex-factory price of living materials decreased by 1.9% compared with the same month of last year, affecting the industrial product price drop by about 0.5 percentage points. Among them, food prices fell by 2.8%, clothing prices fell slightly by 0.2%, general commodity prices fell by 0.8%, and durable consumer goods prices fell by 3%, a decrease of 0.1, 0.1, 0.4 and 0.3 percentage points respectively compared with April 2009. .

The main reasons for the continued decline in industrial product prices in May:

1. The negative impact of the international financial crisis on the real economy is still increasing. Although various government policies have taken various measures to deal with the financial crisis this year, and some economic indicators have shown signs of falling, overall, the economic recession in major economies is still continuing, and global demand remains sluggish. Although the prices of some basic products have rebounded significantly due to abundant liquidity in the past two months, the ratio of high prices to last year is still low, especially the prices of industrial consumer goods are still in a downward channel. From the perspective of supply and demand, the situation of oversupply of industrial products in China is difficult to change in the short term, thus inhibiting the rapid recovery of China's PPI.

2. Although the ex-factory price of industrial products and the purchase prices of raw materials, fuels and power in May 2009 increased by 0.1% and 0.6% respectively compared with the previous month, the price of industrial products in 2008 was rapidly “climbing” in the first 8 months. At the stage, in May 2008, the ex-factory price of industrial products and the purchase price of raw materials, fuels and power increased by 0.8% and 1.3% respectively in April, which was significantly higher than the increase in May this year, so the performance was in May 2009. The price decline of the product continued to expand.

Third, from the month-on-month price changes, since the first time in April this year, the price of industrial products has risen for the second consecutive month since the negative conversion, thus ending the 7-month sequential decline. Compared with last month's price, the ex-factory prices of industrial products in April and May 2009 increased by 0.2% and 0.1% respectively. The purchase prices of raw materials, fuels and power increased by 0.8% and 0.6% respectively. It is worth noting that oil and The prices of major products in natural gas mining, petroleum processing and coking, chemical fiber, non-ferrous metal smelting and calendering processing have risen for three consecutive months, showing a clear upward trend.

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