10 September 2012 08:31 [Source: ICIS news]
SINGAPORE (ICIS)--Rising commodity prices have largely driven up ?xml:namespace>
The pressure of inflation will continue to persist, Li Daxiao added.
“The inflection point has been come, and CPI will keep rising in the fourth quarter,” said Li Xunlei, chief economist at Haitong Securities.
The country’s producer price index (PPI), which is a gauge of wholesale prices, declined by 3.5% year on year, hitting a 34-month low since November 2009, the data showed.“The poor PPI data indicates that industrial products prices have dropped further and economic activities are still weakening,” said Ha Jiming, vice chairman of Goldman Sachs Investment Management Department in
The drop in PPI indicates that the real economy remains in the contraction, analysts said.
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections