Following the creation of a 12-year record-high July 2008, China's producer price index (PPI) for manufactured goods increased 10.1 percent year over year in August 2008, 0.1 percentage point higher compared with the rate in July. Of this, prices for raw materials, fuels and power rose 15.3 percent year over year, 0.1 percentage point lower than the rate in July, the National Bureau of Statistics of China announced on September 10.
The price for means of production increased 12 percent year over year, 0.3 percentage point higher than July:
· Mining and quarrying: up 35.1 percent
· Raw materials: up 14.4 percent
· Manufacturing: up 7.9 percent
The price for means of consumer goods increased 4 percent year over year, 0.6 percentage point lower than July:
· Foodstuff: up 7.4 percent
· Clothing: up 2.4 percent
· Commodities: up 4.3 percent
· Durable consumer goods: down 0.4 percent
The price for crude oil increased 38.2 percent year over year:
· Gasoline: up 33.7 percent
· Diesel: up 22.1 percent
· Kerosene: up 36.1 percent
The price for polystyrene rose 0.6 percent year over year:
· Latex: up 40.8 percent
· Terylene: down 1.5 percent
The price for the coal mining and washing industry increased 39 percent year over year:
· Crude coal: up 38.3 percent
The price for the smelting and pressing of ferrous metals rose 29.9 percent year over year:
· Large rolled steel: up 38.2 percent
· Medium rolled steel: up 45.5 percent
· Small rolled steel: up 33.5 percent
· Wire rod: up 43.9 percent
· Heavy steel plate: up 30.8 percent
The price for the smelting and pressing of non-ferrous metals dropped 2.3 percent year over year:
· Aluminum: down 0.8 percent
· Copper: down 1.4 percent
· Lead: down 9.3 percent
· Zinc: down 29.4 percent
In addition, the price for fuel and power rose 30.9 percent; non-ferrous metal materials rose 26.6 percent; chemical materials rose 0.7 percent, and ferrous metals increased 9.2 percent year over year.
From January to August, the PPI for manufactured goods rose 8.2 percent compared with the same period last year, and purchasing prices for raw materials, fuels and power rose 12.2 percent.
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