Actual | Previous | Consensus | |
---|---|---|---|
Month over Month | -0.1% | -0.2% | |
Year over Year | -2.8% | -2.7% | -2.8% |
Highlights
Today's PPI data matched the consensus forecast for a year-over-year fall of 2.8 percent in the PPI, but consumer price inflation data were weaker than expected. The China RPI fell from plus 79 to plus 36 while the RPI-P fell from plus 75 to plus 70, indicating that recent Chinese data in sum are still coming in well above consensus forecasts.
Definition
Description
The PPI measures the industrial products price changes for the domestic market. Unlike most other countries, China only produces a comparison with the same month in the previous year but not with the previous month. The PPI covers all manufacturing activities. The prices include excise taxes but exclude VAT. The industry breakdown for the PPI follows China's Industrial Classification of the National Economy. The data include a 38 industry breakdown and are not adjusted for seasonality. They are available by the 20th of the month following the reference month and are published in the daily NBS paper"China Information".
The statistical survey of industrial producer prices covers prices for over 11,000 products from 1702 subclasses, 191 groups; and the statistical surveys of industrial purchaser prices cover prices for over 6,000 industrial products from over 900 subclasses. Industrial producer prices are collected from combined surveys of key businesses and typical businesses. Starting from 2011, the key businesses are those with their turnover from primary activities over 20 million yuan, and the typical businesses are those with less than 20 million yuan. The surveys cover about 60,000 industrial enterprises in over 400 cities across the country.