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Growth of Industrial Product Prices Slows Down in China
The growth in the prices of industrial products in China slowed down in the first quarter this year, mainly due to lowering prices of oil and oil products, the National Bureau of Statistics (NBS) said Thursday.
According to the latest NBS statistics, off-production line prices of industrial products grew by 0.8 percent year on year in January-March, with the growth rate dropping by 2.5 percentage points from that in the last quarter of 2000.
The NBS said that the price of capital goods rose by 1.9 percent in the first quarter and described it to be the main factor for the increase in prices of manufactured goods.
The crude oil price in the Chinese market was up 13.5 percent over the same period of last year, while the prices of petroleum and diesel rose 14.7 percent and 19.9 percent respectively.
In the first quarter, the prices of coal and metallurgical products climbed 2.9 percent and 3.2 percent respectively.
Thanks to the output cut last year, the textile industry saw its product prices bounce back by 1.9 percent year on year in the first quarter.
Meanwhile, the prices of consumer goods continued the downward trend in the first three months, dropping by 1.6 percent from a year earlier.
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