The corporate goods price index (CGPI) climbed 0.5 percent in August month on month and 2.9 percent from a year ago, according to a report issued by the People's Bank of China on Thursday.

 

The CGPI, previously called the wholesale price index, has been rising steadily month by month this year.

 

According to the report, prices of energy products remained high in August.

 

Prices of farm produce rose 1.1 percent from July and 4.2 percent from a year ago with grain down 0.1 percent month on month but up 3.4 percent from last August.

 

Prices of animal husbandry products rose 4.1 percent from July with eggs up 12.8 percent.

 

Prices of ferrous metals dropped 0.4 percent month on month, steel fell 1.2 percent, but non-ferrous metals rose 2.3 percent and copper up 2.8 percent.

 

Prices of coal rose 1.3 percent from July, electric power was up 0.7 percent and crude oil was up 2.9 percent. Prices of natural gas dropped 1.2 percent from the previous month but were still up 7.4 percent on the same month of last year.

 

Prices of chemical fertilizer dropped 1.8 percent while pesticide rose 0.1 percent month on month. They respectively declined 4 percent and 2.6 percent year on year.

 

Together with the consumer price index (CPI), the CGPI - which measures average price levels for a fixed basket of capital and consumer goods bought by producers - gives a full picture of China's price movements.

 

(Xinhua News Agency September 15, 2006)