PBC: goods continue to rise in price

by Richard Kilner

Story link: PBC: goods continue to rise in price

The People’s Bank of China has revealed that the price of goods continues to rise on both a monthly and annual basis.

In April, the price of corporate goods had increased by 0.7% compared to March, and by 10.3% compared to April 2007.

The biggest annual prices rises were slaughtered and processed meat which rose by 56.9%, vegetable oil which was up 54.2% and crude oil which had soared in price by 44.5%.

Cars actually fell in cost compared to this time last year, down 1.6% in cost.

Other products which saw only marginal rises in prices were electricity, copper and electrical products, all of which saw price increases of under 2%.

Monthly price increases were more stable, with only a few products rising by more than a handful of percentage points and a number of items, such as vegetables, vegetable oil and gold actually decreasing in price compared to March.

Crude oil and coal saw the largest monthly rises of 6.1% and 5.6% respectively.