China's corporate goods price (CGP) index rose in February from the previous month, indicating growing inflation pressure.

 

According to data released by the central bank on Wednesday, the corporate goods price index in February rose 0.3 percent from the previous month, for a year-on-year increase of 4.5 percent.

 

The CGP index, previously called the wholesale price index, reflects price changes of products traded by corporations, and traces overall price fluctuations together with the consumer price index (CPI).

 

According to the statistics, grain prices rose 0.5 percent in February and cotton went up by 0.2 percent. Also in the month, gold price rose 4 percent while copper price declined 3.1 percent.

 

The overall price of energy resources products declined 0.9 percent in February - crude oil price was down by 7.5 percent and finished oil price down by 0.7 percent. The price of coal rose 0.8 percent in the period.

 

Central bank's statistics also show that the price of iron ore dropped by 1.1 percent in February over the previous month and the price of steel products rose 1.5 percent.

 

(Xinhua News Agency March 15, 2007)