China's industrial producer prices increased by 2.4 percent in May over the same period of 2005, the National Bureau of Statistics (NBS) said Friday.

Factory prices for mined products surged by 12.9 percent, while those of raw materials rose six percent. Processed products rose by 0.8 percent.

Producer prices for consumer products slid by 0.4 percent year on year. Prices for food dropped by 0.8 percent and durable consumer products by 2.1 percent.

Manufacturer's prices for crude oil rocketed by 20.7 percent in May, driving up industrial prices by 0.6 percentage points.

The price of raw coal was up 5.3 percent.

Prices for refined, rolled and flattened ferrous metals declined by 7.4 percent, compared to a 25.3 percent increase in prices for refined, rolled and flattened non-ferrous metals.

The industrial producer prices in the first five months gained by 2.6 percent over the same period of last year, with manufacturer's prices for raw materials, fuel and electricity up 5.9 percent.

Source: Xinhua