China CPI growth falls again

January 12 –- China recorded a 4.1 percent year-on-year increase in the consumer price index (CPI) in December, down from the 4.2 percent recorded last month and 5.5 percent posted in October, according to the National Bureau of Statistics. Prices in both urban and rural areas rose 4.1 percent.

Food prices in December rose 9.1 percent, contributing 2.79 percentage points to the increase in the CPI.

The prices of poultry and related products surged 16.6 percent, contributing 1.12 percentage points to the rise in the CPI.

Egg prices rose 1.2 percent, contributing 0.01 percentage point to the increase in the CPI. Seafood prices increased 9.7 percent, contributing 0.22 percentage point to the growth in the CPI.

The prices of fresh vegetables and fresh fruits increased 11.5 percent and 4.4 percent year-on-year, respectively contributing 0.3 percentage point and 0.09 percentage point to the rise in the CPI.

The prices of non-food items increased 1.9 percent year-on-year. Tobacco and wine prices rose 3.9 percent year-on-year, with the price of wine surging 9.2 percent. The price of apparel and shoes rose 3.8 percent year-on-year.

Prices of home appliances and maintenance services rose 2.5 percent year-on-year, of which durable goods prices increased 0.6 percent.

The prices of health care and personal goods increased 2.8 percent year-on-year, while prices of Chinese medicine raw materials rose 9.7 percent.

The prices of automobile fuel and components increased 8.1 percent year-on-year in December, while urban transportation costs rose 2.4 percent.

The prices of water, electricity and energy rose 0.7 percent, while private housing rentals increased 2.9 percent year-on-year.

Compared with November, food prices increased 1.2 percent, with the price of fresh fruits up 2.7 percent, and the prices of poultry and related products were down 0.8 percent.

Shares of Fujian Sannong Group (000732) rose 1.86 percent to trade at 5.48 yuan per share at 10:51 today.