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| Corporate Goods Price Index Up 0.5% in February |
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China's corporate goods price index (CGPI) rose 0.5 percent in February over the previous month, and maintained a moderate year on year increase of 0.7 percent, China's central bank reported on Thursday. Statistics provided by the People's Bank of China (PBC), also show farm produce prices increased 0.5 percent in February over the previous month but where the same as last year. Grain prices rose 0.5 percent in February, down 0.2 percent year-on-year. Prices for iron ore dropped 1.7 percent, representing a year-on-year decline of 3 percent. The price of pig iron fell 0.9 percent in February, down 15.6 percent year-on-year. Rolled steel prices jumped by 0.6 percent in February, reversing its decline which has seen prices drop 16.8 percent year on year. Prices for nonferrous metals climbed 4.4 percent, for a year-on-year increase of 23.3 percent. The price of copper rose 4.7 percent from the previous month adding to its 36.8 percent price rise year on year. Zinc prices rose 6.1 percent in February from January, for a 32.8 percent increase year on year. Meanwhile, prices of noble metals climbed 3.4 percent in February from January to register a year-on-year increase of 22.7 percent. The statistics also indicate that the price of coal rose 0.1 percent in the second month of this year, for a year-on-year increase of 2.4 percent. Crude oil price rose 8.7 percent while those for finished oil products rose 0.4 percent in February. (Xinhua News Agency March 17, 2006) |
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