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Home arrow China Stock News arrow China's PPI of manufactured goods up 2.7 pct in September: NBS
China's PPI of manufactured goods up 2.7 pct in September: NBS PDF Print E-mail
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Monday, 29 October 2007
        BEIJING, Oct. 26 (InfoChina) -- China's producer price index (PPI) for manufactured goods was up 2.7 percent in September over the same period of last year, the National Bureau of Statistics (NBS) said on Friday.

The monthly increase was 0.1 percentage points higher over that of August, said the bureau.
The bureau said the purchasing price of raw materials, fuel, power was up 3.6 percent year on year, 0.2 percentage points lower over August.

The PPI of capital goods rose 2.5 percent, the bureau said in its latest monthly report released here Friday.

Analysts said rising producer prices had driven up consumer prices. The country's consumer price index (CPI), a major barometer for inflation, eased slightly to 6.2 percent in September after surging up to an 11-year monthly high of 6.5 percent in August.

The strong demand in the international market were pulling up the steel prices, and the domestic demand for steel and cement were solidly backed up by the increasing fixed assets investment, according to a report released earlier this week by the National Development and Reform Commission.

The commission said the rising trend of the PPI was likely to continue into the fourth quarter.
The bureau said producer price index of mining sector was up 1.2 percent, while that of raw materials sector went up 4.2 percent, and that of processing sector was up 1.8 percent.

The PPI of consumer goods jumped 3.3 percent, and the price index of food ballooned by 8.2 percent, compared with the growth rate of 1.0 percent for garments and 1.9 percent for daily commodities.

The PPI of raw coal was up 4.1 percent over the previous month, and that of steel products went up by a range of 8.5 percent to 17.9 percent.

The PPI of copper, aluminum, lead and zinc was up by a range of 0.6 percent to 46.9 percent.
But the PPI of durable consumer goods continued to slip, down 0.7 percent, following a decrease of 0.5 in August and 1.1 percent in July.

The PPI of crude oil went down by 3.9 percent, compared with a 2.2-percent slump in August. The PPI of gasoline and diesel oil fell by 5.2 percent and 0.2 percent, respectively, while that of kerosene rose 0.9 percent.

Zhu Zhixin, deputy director of the commission, has ruled out the possibility for sweeping price hikes in the future, but predicted that the prices for farm produce which triggered the drastic rise of CPI and sparked inflation concern would continue to maintain at a high level.

       The CPI would rise 4.3 percent for the whole of this year, exceeding the government-set alarm level of three percent, Wang Xiaoguang of the commission predicted on Tuesday. (InfoChina/Xinhua)
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