According to the National Bureau of Statistics on October 14, in September, affected by coal and some high energy-consuming industries, the price of industrial products rose continued to expand.

In September 2021, the national industrial producer prices rose by 10.7% year on year, an increase of 1.2% month on month; The purchasing prices of industrial producers rose by 14.3 percent year-on-year, or 1.1 percent month-on-month. Among them, the manufacturing prices of chemical raw materials and chemical products rose 25.5 percent year-on-year, or 2.0 percent month-on-month.

On a month-on-month basis, PPI rose 1.2 percent, 0.5 percentage points faster than the previous month. Specifically, the price of means of production rose by 1.5 percent, or 0.6 percentage points higher; The price of means of living remained flat. Affected by strong demand and tight supply, coal processing prices rose 18.9 percent and coal mining and washing prices rose 12.1 percent, which together affected the PPI growth of about 0.50 percentage points. Production in some energy-intensive industries was limited and prices rose considerably. Among them, the prices of non-ferrous metal smelting and calendered processing went up by 2.9 percent, those of cement and other non-metallic mineral products by 2.9 percent, those of chemical raw materials and chemical products manufacturing by 2.0 percent, and those of ferrous metal smelting and calendered processing by 1.8 percent. The combined impact on PPI growth was about 0.57 percentage points. In addition, the rising price of imported natural gas and other factors pushed up the price of China's gas production and supply industry by 2.5%, while the falling international iron ore price and other factors drove down the price of China's ferrous metal mining and selection industry by 8.7%.

On a year-on-year basis, the PPI rose 10.7%, up 1.2 percentage points from the previous month. Specifically, the price of means of production rose 14.2 percent, or 1.5 percentage points higher. And the price of means of living rose 0.4 percent, or 0.1 percentage point higher. Of the 40 industrial sectors surveyed, 36 registered price increases, four more than the previous month. The price growth of major industries expanded. Among them, the price of coal mining and washing industry rose 74.9 percent, 17.8 percentage points higher than that of the previous month. The price of oil and natural gas extraction went up by 43.6 percent, or 2.3 percentage points; The prices of petroleum, coal and other fuel processing went up by 40.5 percent, or 5.2 percentage points; Ferrous metal smelting and rolling processing prices rose 34.9 percent, or 0.8 percentage points higher; The manufacturing of chemical raw materials and chemical products went up by 25.5 percent, or 1.5 percentage points; The prices of non-ferrous metal smelting and rolling processing industry rose by 24.6 percent, or 2.8 percentage points. Together, the above six industries contributed about 8.42 percentage points to the PPI increase, accounting for about 80 percent of the total increase.

Among the purchasing prices of industrial producers, the price of fuel and power rose by 30.3% year-on-year and 3.9% month-on-month; The price of chemical raw materials rose 20.7% year-on-year, up 1.0% month-on-month.

1— On average, the producer price at the factory gate rose 6.7 percent in September from a year earlier, while the purchase price at the factory gate rose 9.3 percent.