Means of production prices fall in China

Most of the capital goods monitored by the government posted lower prices in late June compared with mid-June this year, Xinhua reports quoting official data on Monday.

Of the 50 major goods monitored by the Chinese government, including seamless steel tubes, gasoline, coal, fertilizer, and some agricultural products mainly used for processing, six saw their prices increase, while 40 posted lower prices, according to the National Bureau of Statistics.

Hog price went up 11.6 percent during the period to 18.3 yuan (2.73 U.S. dollars) per kg.

The reading, released every 10 days, is based on a survey of nearly 2,000 wholesalers and distributors in 31 provincial-level regions.

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