Data released by the National Bureau of Statistics shows that in December 2025, China's Producer Price Index (PPI) declined by 1.9 percent year-on-year, with the rate of decline narrowing by 0.3 percentage points compared to the previous month; on a monthly basis, it increased by 0.2 percent, with the rate of increase expanding by 0.1 percentage points from the previous month. The purchasing prices for industrial producers fell by 2.1 percent year-on-year, narrowing the decline by 0.4 percentage points; month-on-month, they rose by 0.4 percent, with the rate of increase expanding by 0.3 percentage points. For the full year of 2025, industrial producer prices decreased by 2.6 percent, while purchasing prices for industrial producers dropped by 3.0 percent.

In December, within the industrial producer prices, the price of means of production fell by 2.1 percent year-on-year, dragging down the overall PPI by approximately 1.53 percentage points. Specifically, mining industry prices dropped by 4.7 percent, raw materials industry prices decreased by 2.6 percent, and processing industry prices declined by 1.6 percent. The price of means of subsistence fell by 1.3 percent, pulling down the overall PPI by about 0.35 percentage points. Among these, food prices decreased by 1.5 percent, clothing prices edged down 0.1 percent, general consumer goods prices rose by 1.4 percent, and durable consumer goods prices fell by 3.5 percent. For industrial producers' purchasing prices, building materials and non-metallic categories dropped by 6.4 percent, fuel and power categories declined by 5.7 percent, chemical raw materials categories fell by 4.9 percent, agricultural and sideline products categories decreased by 4.1 percent, ferrous metals categories dropped by 3.3 percent, and textile raw materials categories fell by 1.9 percent; conversely, non-ferrous metals and wires categories surged by 10.5 percent.

In December, on a monthly basis, producer prices for means of production increased by 0.3 percent, contributing approximately 0.24 percentage points to the overall PPI increase. Specifically, mining industry prices rose by 0.8 percent, raw materials industry prices increased by 0.6 percent, and processing industry prices went up by 0.2 percent. Prices for means of subsistence remained flat. Among these, food prices dipped by 0.1 percent, clothing prices increased by 0.2 percent, general consumer goods prices rose by 0.5 percent, and durable consumer goods prices fell by 0.2 percent. For industrial producers' purchasing prices, non-ferrous metals and wires categories increased by 2.5 percent, fuel and power categories rose by 1.5 percent, and building materials and non-metallic categories edged up by 0.1 percent; meanwhile, ferrous metals categories dropped by 0.4 percent, chemical raw materials categories fell by 0.2 percent, and both agricultural and sideline products categories and textile raw materials categories declined by 0.1 percent.