China's producer prices shrank by 1.8% yoy in August 2024, steeper than a 0.8% drop in the previous month and steeper than market forecasts of a 1.4% fall. It marked the 23rd straight month of producer deflation and the highest figure since April, due to persistently weak domestic demand and the downward trend of some global commodity prices. A decrease in the cost of means of production gained traction (-2.0% vs -0.7% in July), mainly attributed to processing (-2.7% vs -2.1%) and raw materials (-0.8% vs 1.8%) as mining prices moderated sharply (0.9% vs 3.5%). Simultaneously, prices of consumer goods declined further (-1.1% vs -1.0%), largely dragged by food (-1.3% vs -0.7%), durable goods (-1.9% vs -2.0%), and clothing ( -0.4% vs -0.5%) while daily use goods prices were flat (vs -0.3%). Monthly, producer prices were down by 0.7%, the fastest pace in 14 months, following a 0.2% fall in the prior two months. Considering the first eight months of the year, producer prices retreated 1.9%. source: National Bureau of Statistics of China
Producer Prices in China decreased 1.80 percent in August of 2024 over the same month in the previous year. Producer Prices Change in China averaged 2.75 percent from 1993 until 2024, reaching an all time high of 26.00 percent in May of 1993 and a record low of -8.20 percent in July of 2009. This page provides the latest reported value for - China Producer Prices Change - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. China Producer Prices Change - data, historical chart, forecasts and calendar of releases - was last updated on September of 2024.
Producer Prices in China decreased 1.80 percent in August of 2024 over the same month in the previous year. Producer Prices Change in China is expected to be -0.40 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the China Producer Prices Change is projected to trend around 1.80 percent in 2025, according to our econometric models.