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China's Industrial Prices Drop in May
Factory prices of industrial products dropped 0.2 percent over one year ago in May, China's National Bureau of Statistics (NBS) said Tuesday.
According to figures released by the NBS Tuesday, the accumulated prices of industrial products inched up 0.5 percent over the same period of last year during January-May.
Prices of capital goods went up 0.1 percent year-on-year in May, propelled up by price hikes of mining products, raw materials and oil products. However, the prices of manufacturing products continued to decline in May, dropping 1.6 percent over one year ago.
According to the NBS, prices of consumer goods were still in a downward trend in May, falling 1.1 percent year-on-year. Only foodstuffs saw an increase of 0.9 percent in the month. Prices of apparels, daily necessities and durable consumer goods dropped 0.8 percent, 1.3 percent and 4.1 percent respectively.
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