AI Data Insight
According to the latest data, the cumulative value of China's Consumer Goods PPI for Q3 2026 reported at 98.9 (equivalent to a cumulative YoY decline of 1.1%), with the decline narrowing slightly from the previous value of 98.8. However, the overall PPI during the same period surged significantly driven by upstream raw materials, highlighting that domestic terminal consumer demand remains weak. Mid-to-downstream manufacturing industries are facing a K-shaped divergence dilemma where costs cannot be smoothly passed on.