Producer prices rise on oil and coal expenses

China’s producer prices grew 3.1 percent last month year on year, powered by the rising cost of crude oil and coal, the National Bureau of Statistics said yesterday.

Crude oil prices climbed the most, jumping 40.7 percent in January over the same month last year. Gasoline prices increased 25.9 percent from a year earlier, and diesel grew 21.9 percent.

Analysts said crude prices are bound to expand rapidly in the coming months due to the gap between the domestic and global market.

Shanghai Daily