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| China's PPI for manufactured goods up 6.1% in Jan |
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| 2008-02-24 | |
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Feb. 18, 2008 (China Knowledge) - China's Producers’ Price Index (PPI) for manufactured goods was up by 6.1% in January from the corresponding month last year, mainly driven by the soaring energy costs, according to the statement released by the National Bureau of Statistics today. In January, the fastest growing sector was the crude oil factory-gate prices, which surged 29.9% year-on-year. Meanwhile, PPI for smelting and pressing of ferrous metal prices soared 17.3% from the same month last year, and price for foodstuff and fuel and power increased 10.4% and 15.7% respectively. The PPI increase is partly due to the heavy snowstorm, worst in a decade, said Feng Yuming, an Orient Securities Co analyst, and the consumer price index is likely to reach higher attributed to the high PPI. The CPI figures are expected to be released today. |
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