Means of production prices decline in China

BEIJING - Most of the capital goods monitored by China's statistical authorities registered lower prices in early June compared with late May, official data showed Wednesday.

Of the 50 major goods classified in nine categories, including seamless steel tubes, gasoline, coal, fertilizer, and some chemicals, 28 reported lower prices in the period, 19 registered price increases, and the prices for three remained unchanged, according to the National Bureau of Statistics (NBS).

During the period, the prices of liquefied natural gas and liquefied petroleum gas fell 5.2 percent and 6.2 percent, respectively.

Hog prices stayed flat, while cotton prices climbed 4.8 percent in the same period, NBS data showed.

The figures, released every ten days, are based on a survey of nearly 2,000 wholesalers and distributors in 31 provincial-level regions across the country.