Means of production prices rise in China

BEIJING - Most of the capital goods monitored by the Chinese government posted higher prices in early August compared with late July this year, official data showed Monday.

Of the 50 major goods monitored by the government, which include seamless steel tubes, gasoline, coal, fertilizer and some agricultural products mainly used for processing, 27 saw their prices increase, while 20 posted lower prices, according to the National Bureau of Statistics.

Among the goods monitored, liquefied natural gas led the upward trend, with its price rising 6.7 percent from late July, while the price of sulfuric acid (98 percent) saw the sharpest decline of 28.2 percent.

Hog price rose 1.4 percent in early August to 21.5 yuan ($3.2) per kg.

The reading, released every 10 days, is based on a survey of nearly 2,000 wholesalers and distributors in 31 provincial-level regions.