AI Data Insight
In April 2026 (Q2 2026), the month-on-month growth rate of China's producer goods PPI jumped to 2.1%, expanding significantly from the previous value of 1.3%, driving the overall PPI increase beyond market expectations. Benefiting from the rise in international commodity prices and the effectiveness of domestic capacity governance, the upstream mining and raw material industries became the main driving force. However, transmission to the consumer end remains weak, and vigilance is needed regarding the gross margin squeeze risks for mid-to-downstream enterprises in the future.