A People's Bank of China report issued Tuesday shows the prices of refined oil climbed 2.7 percent in April month on month and 23.9 percent over the same period last year.
According to the central bank, the overall prices of energy resources rose by 0.7 percent month on month and 11.8 percent from the same period last year, with month-on-month 0.8 percent and year-on-year 26.8 percent increases of crude price and a month-on-month 2.7 percent and year-on-year 23.9 percent increases of refined oil.
China in March lifted the ex-factory prices of gasoline by 300 yuan (37.5 U.S. dollars) per ton, and that of diesel oil by 200 yuan (25 US dollars). And the government established a mechanism to offer subsidies to disadvantaged communities and public service sectors.
Along with the Consumer Price Index (CPI), the Corporate Goods Price Index (CGPI), previously called the wholesale price index, a measure of the average price level for a fixed basket of capital and consumer goods paid by producers, gives a full picture of China's price movement.
According to the central bank, the country's price movement maintained stable in April with the overall prices of company goods increasing by 0.3 percent month by month and one percent year on year.
(Xinhua News Agency May 17, 2006)
