China's Commodity Prices Continue Rise in February

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Last updated at: (Beijing Time) Tuesday, March 11, 2003

China's Commodity Prices Continue Rise in February

The average commodity price of China's enterprises continued to rise in February, according to latest statistics provided by the People's Bank of China (PBOC).

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The average commodity price of China's enterprises continued to rise in February, according to latest statistics provided by the People's Bank of China (PBOC).

Last month the price indicator rose 0.5 percent month-on-month,or one percent year-on-year.

The average price of farm produce reversed an upward trend to move down by 0.4 percent month-on-month, or 2.3 percent year-on-year, PBOC officials said.

The average price of energy supply was driven up by a sustained price hike for oil both at home and abroad, whereas the average price of consumable goods slipped down 0.1 percent from the previous month, or 1.6 percent from the same month last year.

The price level for investment goods maintained a rise for the sixth consecutive month, up 0.7 percent month-on-month, or 2.1 percent year-on-year, the PBOC officials added.

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