National Bureau of Statistics: The month-on-month decline in PPI continues to be the same as last month, with prices in some industrial sectors showing a steady and positive trend.

PPI fell by 0.4% month-on-month, with the same decrease as the previous month. The main reasons for the decline in PPI this month are as follows: firstly, the impact of international input factors on the downward trend of domestic industry prices. Changes in the international trade environment have led to a rapid decline in prices of some international bulk commodities, affecting the decrease in prices of domestic related industries. Among them, the downward trend in international crude oil prices has affected the decline in domestic petroleum-related industry prices on a month-on-month basis, with prices in the petroleum and natural gas extraction industry falling by 3.1%, prices in petroleum refining and manufacturing decreasing by 2.5%, and prices in the chemical raw materials and chemical products manufacturing industry declining by 0.6%; the downward trend in international prices of aluminum, zinc, copper and other non-ferrous metals has affected the decline in domestic prices of aluminum smelting, zinc smelting and copper smelting by 2.4%, 1.6% and 0.8% respectively. Prices in some export industries have decreased month-on-month, with prices in the automobile manufacturing industry falling by 0.5%, and prices in the computer communication and other electronic equipment manufacturing industry, furniture manufacturing industry, and metal products industry decreasing by 0.2%. The combined impact of these 10 industries has led to a decrease in PPI of approximately 0.24 percentage points month-on-month. Secondly, some domestic energy prices have seasonally decreased. The end of heating in the northern region has led to a traditional off-season in coal demand, with prices in coal mining and processing industries both decreasing by 3.3% on a month-on-month basis. New energy generation has low costs and strong substitutability, coupled with an increase in wind power output, leading to a decrease in prices of electricity and heat production and supply by 0.3% month-on-month. The combined impact of these three industries has led to a decrease in PPI of approximately 0.10 percentage points month-on-month.