Data released by the National Bureau of Statistics on March 9 showed that in February 2026, the national producer price index (PPI) for industrial products decreased 0.9% year-on-year and increased 0.4% month-on-month. The purchase price index for industrial producers decreased 0.7% year-on-year and increased 0.7% month-on-month. Among these, the factory gate price for chemical raw materials and chemical products manufacturing fell 3.7% year-on-year but rose 1.3% month-on-month.

From January to February, the average industrial producer price index decreased 1.2% compared with the same period last year, while the industrial producer purchase price index fell 1.1%. Within this, the factory gate price for chemical raw materials and chemical products manufacturing dropped 4.4% year-on-year.

Year-on-Year Changes in Industrial Producer Prices

In February, among the components of industrial producer prices, prices for means of production fell by 0.7%, contributing to a decrease of approximately 0.55 percentage points in the overall level of industrial producer prices. Specifically, prices in the mining industry fell by 5.3%, prices in the raw materials industry fell by 1.9%, and prices in the processing industry rose by 0.3%. Prices for consumer goods fell by 1.6%, contributing to a decrease of about 0.35 percentage points in the overall PPI level. Among these, food prices dropped by 1.8%, clothing prices decreased by 1.0%, general daily necessities prices fell by 1.8%, and durable consumer goods prices declined by 1.6%.

Among industrial producer purchase prices: - Fuel and power prices fell 8.4% - Chemical raw materials prices fell 5.0% - Building materials and non-metallic materials prices fell 4.5% - Ferrous metal materials prices fell 3.1% - Agricultural and sideline products prices fell 2.3% - Textile raw materials prices fell 1.9% - Non-ferrous metal materials and wire prices rose 21.3%

Month-on-Month Changes in Industrial Producer Prices

In February, among industrial producer ex-factory prices, prices for means of production rose by 0.5%, contributing approximately 0.38 percentage points to the overall increase in industrial producer ex-factory prices. Specifically, prices in the mining industry rose by 1.2%, prices in the raw materials industry rose by 0.2%, and prices in the processing industry rose by 0.6%. Prices for consumer goods remained unchanged. Specifically, food prices held steady, clothing prices fell by 0.4%, general daily necessities prices dropped by 0.2%, and durable consumer goods prices rose by 0.3%.

Among the purchase prices for industrial producers, prices for nonferrous metals and wires rose by 4.8%, chemical raw materials increased by 1.0%, textile raw materials rose by 0.2%, and construction materials and non-metallic materials increased by 0.1%. Prices for fuels and power fell by 1.2%, ferrous metals decreased by 0.2%, and prices for agricultural and sideline products remained unchanged.

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