In July 2026, China's industrial producer prices for ex-factory goods rose by 3.5% year-on-year but fell by 0.7% month-on-month. Industrial producer purchase prices increased by 5.5% from a year ago and decreased by 1.0% from the previous month. Over the first seven months of the year, average ex-factory prices were up 1.8% compared to the same period last year, while purchase prices rose by 2.8%.

Year-on-Year Price Changes for Industrial Producers

In July, ex-factory prices for means of production surged 4.8% year-on-year, contributing approximately 3.72 percentage points to the overall PPI increase. Within this, mining and quarrying prices jumped 16.4%, raw material prices rose 6.1%, and processing industry prices climbed 3.1%. Conversely, consumer goods prices dropped 0.8%, subtracting about 0.17 percentage points from the overall index. Food prices fell 2.1%, clothing prices declined 1.1%, general daily-use goods prices decreased 1.0%, and durable consumer goods prices edged up 0.4%.

For industrial producer purchase prices, non-ferrous metal materials and wire prices soared 19.0% year-on-year. Fuel and power, along with chemical raw materials, both increased by 9.3%. Textile raw material prices rose 3.2%, and ferrous metal materials increased by 1.4%. In contrast, building materials and non-metallic mineral products fell 4.1%, and agricultural by-products dropped 0.8%.

Month-on-Month Price Changes for Industrial Producers

On a monthly basis, ex-factory prices for means of production declined 0.9% in July, reducing the overall PPI by about 0.70 percentage points. Mining and quarrying prices fell 0.2%, raw material prices decreased 2.4%, and processing industry prices slipped 0.1%. Consumer goods prices edged down 0.1%, shaving about 0.01 percentage points off the total index. Food and durable consumer goods prices remained flat, while clothing prices fell 0.3% and general daily-use goods dropped 0.2%.

For industrial producer purchase prices, fuel and power, along with chemical raw materials, both declined 2.6% month-on-month. Non-ferrous metal materials and wire prices fell 1.4%, and ferrous metal materials and textile raw materials each decreased 0.2%. Building materials and non-metallic mineral products edged down 0.1%. Agricultural by-product prices, however, rose 0.5%.