According to data released on May 11, China's Producer Price Index (PPI) for industrial products rose by 2.8% year-on-year and 1.7% month-on-month in April 2026. The purchasing price index for industrial producers increased by 3.5% year-on-year and 2.1% month-on-month.
On average from January to April, the PPI increased by 0.2% compared to the same period last year, while the purchasing price index for industrial producers rose by 0.5%.
**Year-on-Year Changes in Industrial Producer Prices**
In April, within the PPI, the price of production materials increased by 3.8%, contributing approximately 2.98 percentage points to the overall PPI increase. Specifically, prices in the mining industry rose by 10.6%, raw materials industry prices increased by 7.1%, and processing industry prices went up by 1.5%. Conversely, the price of consumer goods fell by 1.0%, dragging down the overall PPI by about 0.23 percentage points. Within this category, food prices decreased by 1.9%, clothing and general daily necessities prices both dropped by 1.1%, and durable consumer goods prices declined by 0.3%.
In terms of industrial purchasing prices, non-ferrous metal materials and wire products saw a significant increase of 21.3%, chemical raw materials rose by 5.9%, fuel and power increased by 4.4%, and textile raw materials went up by 1.0%. In contrast, building materials and non-metallic products prices fell by 5.1%, agricultural and sideline products prices decreased by 2.1%, and ferrous metal materials prices dropped by 0.9%.
**Month-on-Month Changes in Industrial Producer Prices**
On a monthly basis in April, the price of production materials within the PPI increased by 2.1%, contributing about 1.68 percentage points to the overall PPI rise. Specifically, mining industry prices rose by 5.7%, raw materials industry prices increased by 4.9%, and processing industry prices went up by 0.4%. The price of consumer goods decreased by 0.1%, reducing the overall PPI by approximately 0.02 percentage points. Within this category, food prices fell by 0.4%, clothing prices decreased by 0.1%, while general daily necessities and durable consumer goods prices both increased by 0.1%.
For industrial purchasing prices, chemical raw materials saw a notable increase of 7.3%, fuel and power rose by 6.3%, textile raw materials increased by 1.3%, ferrous metal materials went up by 0.6%, and agricultural and sideline products prices rose by 0.3%. Conversely, building materials and non-metallic products prices fell by 1.0%, and non-ferrous metal materials and wire products prices decreased by 0.1%.
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