Prices of most China’s production goods decline

BEIJING, Nov. 5 (Xinhua) — China’s official data showed Monday that most major production goods monitored by the government posted lower prices in the last 10 days of October compared with the previous 10 days.

Of the 50 goods monitored by the government, including seamless steel tubes, gasoline, coal, fertilizer and some chemicals, 28 goods saw their prices fall during the period, with 18 posting rising prices and four seeing their prices unchanged, according to the National Bureau of Statistics (NBS).

Prices of cement and coke picked up notably while chemicals such as styrene and polyester filament led the declines, according to the NBS. Prices of agricultural products including wheat, corn and soybeans gained.

The reading, released every 10 days, is based on a survey of nearly 1,700 wholesalers and distributors in 24 provinces and regions.

The data came after the country’s producer price index, which measures costs of goods at the factory gate, rose 3.6 percent year on year in September, with the pace of growth down from 4.1 percent in August.

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