China's PPI up 5.8 percent on-year in January

22/02/2005

China's producer price index (PPI) grew 5.8 percent in January year-on-year, a report released by China's National Bureau of Statistics on Monday shows.

According to the report, the purchase price of raw materials, fuel and power jumped up 10.7 percent year-on-year, with the growth rate slightly down from the average level in 2004.

With increasing rate down 1.6 percentage points over that in last December, PPI for production means was up 7.8 percent in January compared with the same period last year, leading to an overall increase of 5.7 percentage points in PPI.

The report shows that the price of crude oil and finished oil saw an obvious decline in January. The PPI for crude oil rose 19.1 percent year-on-year with increasing rate down 16.5 percentage points than that in last December.