(Nasdaq, Oct 25, 2006)-Chinese producer price index - PPI for September rose 3.5% on year, National Bureau of Statistics of China said Tuesday.

The sub-index for mining and quarrying industry climbed 13.6%, while that of raw materials industry went up 7.2% over the previous year. The producer price for machining industry came in with 1.7% rise in September.

Purchasing price for overall consumer goods grew 0.6%, with prices for food advancing 1.1% and cloth prices going 1.6% higher over previous year. Producer price for commodities climbed 1.2%, while durable consumer goods prices dropped 1.6% in September.

Producer price for almost all categories of good increased in September. Crude oil prices spiked 22.3%, year-over-year. Prices for oil products went up 14.9% and gasoline was up 16.4% over last year. PPI for kerosene and diesel rose 13.2% during the same period.Polystyrene prices grew 6.0%, while mining and cleaning industry was up 2.5% over the year. PPI for crude coal increased 2.2% during the month.

Meanwhile, PPI for smelting and pressing of ferrous metals dropped 2.1%, while smelting and pressing of non-ferrous metals gained 28.5%.

Purchasing price for raw materials rose 10.9% year-over-year. Fuels and power products prices spiked 38.8%, while non-ferrous metal materials and chemical materials climbed 3.9%. However, PPI for ferrous metals dropped 1.0%.during the month.

In the first nine months, PPI increased 2.9% from a year ago period, the report said. Purchasing price of raw materials, fuels and power products grew 6.3% year-over-year.

Source:Nadaq