In October 2025, Liaoning's Producer Price Index (PPI) fell by 1.2% year-on-year, narrowing the decline by 1.9 percentage points compared to the previous month. On a monthly basis, the PPI remained flat after a 0.4% drop in September. Meanwhile, the Industrial Purchasing Price Index (IPI) declined by 3.8% year-on-year, with the contraction easing by 1.1 percentage points from September. Month-over-month, the IPI decreased by 0.3%, reversing a 0.2% rise in the prior month.

Breaking down the PPI by sector: - **Production materials** prices fell by 0.7% year-on-year, with mining industries down 4.3%, processing industries down 1.1%, and raw materials remaining unchanged. - **Consumer goods** prices dropped 3.2%, led by food (-4.6%), general household goods (-2.5%), durable consumer goods (-2.4%), and apparel (-0.7%).

Among the nine major raw material categories for IPI, three saw price increases while six declined: - **Gains**: Nonferrous metals & wires (+0.8%), timber & pulp (+0.6%), textile materials (+0.1%). - **Declines**: Other industrial materials & semi-finished goods (-0.7%), ferrous metals (-3.2%), construction materials & non-metallics (-4.6%), fuel & power (-6.5%), agricultural byproducts (-7.0%), and chemical raw materials (-7.1%).