China's producer prices declined by 2 percent year-on-year in August 2020, after a 2.4 percent decrease in July and matching market estimates. This was the seventh straight month of fall in factory prices but the smallest in five months, as the economy continues to try to recover from the severe damage caused by the COVID-19 outbreak. Means of production cost deflation eased (-3 percent vs -3.5 percent in July) due to extraction (-5.8 percent vs -7.1 percent), raw materials (-6.4 percent vs -6.9 percent) and processing (-1.4 percent vs -1.8 percent). At the same time, consumer goods price inflation slowed to 0.6 percent from 0.7 percent in July, amid a slowdown in cost of food production (3.1 percent vs 3.7 percent), while prices continued to fall for clothing (-1.3 percent vs -1.1 percent), daily use goods (-0.4 percent vs -0.8 percent) and consumer durables (-1.5 percent vs -1.6 percent).
Producer Prices Change in China averaged 1.15 percent from 1995 until 2020, reaching an all time high of 13.47 percent in July of 1995 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 2020. source: National Bureau of Statistics of China
Producer Prices Change in China is expected to be -3.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Producer Prices Change in China to stand at 1.10 in 12 months time. In the long-term, the China Producer Prices Change is projected to trend around 1.50 percent in 2021 and 2.00 percent in 2022, according to our econometric models.