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Capital Goods Prices Continue to Rise in China
The prices of capital goods continued to rise in April in China after picking up in March this year, the State Administration of Internal Trade (SAIT) said Tuesday.
The April prices were one percent higher than that of March, and two percent higher than the same month last year, according to figures from the SAIT.
Prices of capital goods began declining in April 1996, and only picked up this March, edging up 0.4 percent on an annual basis. Total sales of capital goods in April amounted to 419 billion yuan, surging 13.9 percent on a year-on-year basis.
In that month, China's imports soared 32.8 percent, more than 70 percent of which was capital goods. Exports of major capital goods such as steel, coal, and non-ferrous metals also grew by more than 50 percent on an annual basis.
Analysts from the SAIT attributed the price rise to the steady increase of domestic demand and foresaw a more balanced supply and demand in May, which might push the prices higher.
The sales volume of capital goods in May is expected to reach 415 billion yuan, with prices going up 2.5 percent over the same month last year.
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