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Growth in factory prices of industrial products slow down
11
Nov '08
According to figures released by the National Bureau of Statistics, China's October factory prices of industrial products rose 6.6 percent year-on-year, but growth rate dropped 2.5 percentage points from the previous month.

Statistics reveal that China's factory prices of industrial products started to fall after realizing a rise of 10.1 percent year-on-year in August this year, the peak in recent years. The growth of China's factory prices of industrial products fell to 9.1 percent in September and further down to 6.6 percent in October.

From January to October, China factory prices of industrial products rose 8.2 percent year-on-year, but growth rate fell 0.1 percent compared to first three quarters. Statistics show that Chinese ex-factory price of crude oil rose 11.3 percent year-on-year in October, but growth rate declined 14.3 percent from September.

October purchase prices of raw materials, fuel and power rose 11.0 percent year-on-year, but growth rate dropped 3.0 percentage points from the previous month.

Fibre2fashion News Desk - China

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