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Prices of Industrial Products Drop in July
Factory prices of industrial products in China went down 1.3 percent in July from the same month last year, official figures available on Monday show.
However, factory prices of industrial products in the first seven months this year were still 0.1 percent up from the same period last year, according to the statistics released by the National Bureau of Statistics (NBS).
Factory prices of capital goods, which dropped in June, continued to fall in July, recording at 1.3 percent lower than the same month last year.
The prices of the goods of mining industry increased by 0.5 percent, prices of raw materials and processing industry fell 0.8 percent and 1.9 percent respectively.
Affected by the downward trend of international crude oil prices, prices of domestic crude oil, after 27 months of increase, began to drop in July. Prices of petroleum industry products went down 0.7 percent from the same month last year, with crude oil down 3.3 percent, gasoline down 1.1 percent and diesel oil up 6.3 percent.
The prices of consumption goods continued a downward trend in July, down 1.2 percent from the same month last year, with garment prices falling 0.4 percent, daily consumption goods down 1.1 percent and durable consumption goods down 4.2 percent. Food prices, as an exception, rose by 0.5 percent.
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