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Corporate goods prices up 1.1% in January

( Xinhua )
Updated: 2008-02-26 17:28

Corporate goods price (CGP) index in China rose 1.1 percent month-on-month in January, the People's Bank of China (PBOC) said on Tuesday.

Related readings: CPI rises 7.1%, highest in 11 years Nation faces increasing inflation risk PBOC to stick to 'tight' stance Tight monetary policy to stay - banker

The figure indicated growing inflation pressure.

According to the PBOC, the CGP index rose 8.4 percent year-on-year.

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

According to the PBOC, agricultural product prices rose 2.2 percent month-on-month and 12.8 percent year-on-year in January. Food prices rose 2.3 percent month-on-month and 14.3 percent year-on-year.