China's corporate goods price index (CGPI) was up 4.6 percent year-on-year in January, according to a report released by the People's Bank of China on Thursday.

The CGPI, previously called the wholesale price index, reflects price changes of products traded by corporations and traces overall price fluctuations together with the consumer price index (CPI).

Prices of farm produce rose 7.8 percent from a year ago, with grain up 9.2 percent and vegetables down 13.7 percent.

Prices of ferrous metals edged up 5.4 percent, non-ferrous metals soared 22.6 percent, copper climbed 27.4 percent and aluminum was up 6.9 percent.

The overall prices of energy resources rose 7 percent - crude oil was up 8 percent, refined oil 11.5 percent, coal 5.6 percent and electricity 5percent.