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China: Producer Price Index for Manufactured Goods Increased in October 2008
added: 2008-11-13

In October, Producer Price Index (PPI) for manufactured goods was up by 6.6 percent year-on-year; purchasing prices for raw material, fuels and power rose by 11.0 percent.

PPI for means of production increased 7.7 percent over last October. Of the total, PPIs for mining and quarrying industry increased 22.7 percent; that of raw materials industry and machining industry correspondingly up by 9.0 and 5.1 percent. PPI for means of consumer goods grew 3.1 percent. Of which, PPIs for foodstuff increased 5.4 percent; that of clothing and commodities rose 2.6 and 3.6 percent, while that of durable consumer goods dropped 0.4 percent.

In terms of different categories:

PPI for crude oil increased 11.3 percent, year-on-year. PPIs for oil products, such as gasoline, diesel and kerosene increased 31.7, 19.5 and 36.3 percent respectively.

PPI for latex surged by 25.5 percent; that for polystyrene, terylene declined 6.0 and 8.4 percent compared with the same month a year ago.

PPI for mining and washing of coal industry was up by 41.1 percent over last October. Of which, PPI for crude coal increased 40.6 percent.

PPI for smelting and pressing of ferrous metals grew 15.3 percent from the same month last year. Of which, PPIs for ordinary large, medium, and small steels surged by 22.3, 21.3 and 18.0 percent; that of wire rod and heavy steel plate got an increase of 11.6 and 17.0 percent, year-on-year.

PPI for smelting and pressing of nonferrous metals was down by 9.8 percent, year-on-year. Of the total, aluminum, copper, lead and zinc came down by 7.5, 16.9, 22.7 and 39.7 percent respectively.

In addition, wherein the purchasing price for raw materials, fuels and power products, the price for fuel and power, ferrous metal materials, and chemical materials increased 24.6, 17.7 and 5.7 percent respectively; while that for nonferrous metal materials declined 8.2 percent, on a year-on-year basis.

From January to October, a year-on-year growth of PPI was 8.2 percent, the purchasing price for raw materials, fuels and power products increased 12.2 percent.


Source: National Bureau of Statistics of China

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