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CGPI rising year on year in May
(Xinhua)
Updated: 2006-06-14 09:38
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A People's Bank of China report issued Tuesday shows the corporate goods price index (CGPI) climbed 0.6 percent in May month on month and 1.5 percent from a year ago.
The CGPI, previously called the wholesale price index, has risen steadily this year. According to the report, prices of ferrous metals, processed oil and rubber rose quickly while farm produce went down.
Prices of farm produce dropped 0.8 percent, sugar fell 0.5 percent and vegetables 18.6 percent from April while wheat rose 0.4 percent and fruit was up 4.7 percent.
Prices of ferrous metals rose 1.4 and steel was up 2.6 percent month on month, but declined 10.6 and 9.1 percent respectively year on year.
Along with the consumer price index (CPI), the CGPI, a measure of the average price level for a fixed basket of capital and consumer goods paid by producers, gives a full picture of China's price movements.