AI Data Insight
In July 2026 (Q3 2026), China's consumer goods PPI MoM index reported at 99.9 (i.e., a MoM decrease of 0.1%). Although slightly improved from the previous value of 99.7, it remains in the contraction zone. Affected by falling oil prices and sluggish terminal demand, the overall PPI YoY growth rate dropped to 3.5%, falling short of market expectations, indicating that the structural divergence of "hot upstream, cold downstream" continues to fester.