Apr. 9, 2012 (China Knowledge) - China's producer price index (PPI), an indicator of the factory-gate prices of industrial products, grew 0.3% month on month in March, reflecting a month-on-month increase for the second consecutive month, said the National Bureau of Statistics
The PPI last month fell 0.3% compared with the same month of 2011, representing the first year-on-year decline in one year.
Last month, prices of production materials edged up 0.3% month on month but fell 0.8% from a year earlier. Prices of products in the mining sector increased 3.7% year on year and 0.8% month on month. Prices of products in the raw materials rose 0.8% from the previous month or 0.8% year on year, and prices of products in the processing industry rose 0.1% month on month but declined 2.0% compared with a year earlier.
Prices of consumer goods rose 0.1% from the previous month and went up 1.4% compared with the corresponding period of last year. On year-on-year basis, there was a 2.4% rise in food prices, and a 2.6% increase in the price of clothing. Prices of daily consumer goods rose 1.2% year on year, but prices of consumer durables went down 0.7% year on year.
Last month, the purchase prices of industrial producers rose 0.1% month on month or 0.1% year on year. The prices of nonferrous metal materials dropped 4.0% year on year but rose 0.2% month on month. The purchase prices of fuel and power rose 5.1% year on year and 0.8% month on month in March.
In the first three months, the country's PPI rose 0.1% year on year.