Means of production prices down in China

A staff member refuels a vehicle at a gas station in Zaozhuang City, east China's Shandong Province, Jan. 3, 2023. (Photo by Sun Zhongzhe/Xinhua)

BEIJING, May 29 (Xinhua) -- Most of the capital goods monitored by China's statistical authorities registered lower prices in mid-May compared with early this month.

Of the 50 major goods, including seamless steel tubes, gasoline, coal, fertilizer, and some chemicals, eight reported rising prices during the period, while 41 were cheaper, and one remained unchanged, according to the National Bureau of Statistics.

The prices of ribbed steel bars and coking coals dropped 0.6 percent and 2.5 percent, respectively. Hog prices were down by 1.4 percent, and soybean prices gained 0.9 percent.

The readings, released about every 10 days, are based on a survey of nearly 2,000 wholesalers and distributors across the country. ■