China's Industrial Goods' Prices Grow at Slower Rate

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Last updated at: (Beijing Time) Tuesday, May 27, 2003

China's Industrial Goods' Prices Grow at Slower Rate

The factory prices of industrial products in China rose 3.6 percent year-on-year in April, one percentage point slower than in March.

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The factory prices of industrial products in China rose 3.6 percent year-on-year in April, one percentage point slower than in March.

The National Bureau of Statistics (NBS) said in a monthly report Tuesday that the purchasing prices of raw materials, fuels and electric power rose 5.9 percent year-on-year in April. The growth rate was 0.1 percentage points higher than in March.

The NBS noted that price increases of capital goods were the main force powering the growth of factory prices of industrial products. NBS statistics also show that the factory prices of capital goods rose 5.3 percent in April, 1.4 percentage points slower than in March.

Meanwhile, NBS figures show that the factory prices of consumer goods dropped for the 71st consecutive month in April, dipping 1.2percent year-on-year.

Of the 39 industrial sectors surveyed, 19 saw the prices of their products rise in April, with oil and natural gas extraction showing the strongest growth.

The surging prices of oil and steel products are the major reasons for the new round of price growth in April, NBS acknowledged.

The bureau said that prices in the medical manufacturing sector remained stable despite the impact of severe acute respiratory syndrome (SARS) epidemic. Prices in the medical manufacturing sector dropped 0.6 percent year-on-year in April.

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