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.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
Asian Chemical Connections