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China corporate goods prices down 8% in July

(Xinhua)
Updated: 2009-08-15 10:47

China's corporate goods price index (CGPI), also called the wholesale price index, dropped 8 percent in July from the same period last year, according to a report released Friday by the People's Bank of China (PBOC), the central bank.

The wholesale price index reflects changes in the prices of commodities traded among enterprises on wholesale markets.

The index was 0.8 percent up in July month-on-month, indicating the fifth straight month of increase since March.

In the first seven months, the wholesale price index dipped 6.8 percent year-on-year.

The price of capital goods in July dipped 9.5 percent from the same period last year, but rose 0.8 percent month on month. The price of consumer goods dipped 4.3 percent year-on-year, but climbed 0.6 percent month-on-month.

The price of iron ore dived 33 percent year-on-year, but rose 2.6 percent month-on-month. The price of steel went down 29.9 percent year on year, but up 3.7 percent month on month.

Related readings:  Retail, wholesale prices may dip in May  CPI down 1.82% in July Monetary policy adjustable on economic situation - official CPI and PPI fall, but deflation threat eases

The price of crude oil dived 44.6 percent year-on-year, but rose 13.6 percent month-on-month.

The price of autos rose 0.2 percent year-on-year, but went down 0.1 percent month on month.

The price of home appliances dipped 0.4 percent year-on-year and 0.1 percent month-on-month.

China's consumer price index (CPI), a main gauge of inflation, dipped 1.8 percent in July from a year earlier, the National Bureau of Statistics (NBS) said Tuesday.

It marked the sixth consecutive month of decline since the index dropped 1.6 percent in February -- the first fall since October 2002.