Price of industrial products up 6.4 percent in July


Updated Mon, 16 Aug 2004 00:00:00 GMT

The ex-factory price of industrial products increased by 6.4 percent in July year-on-year, and the growth rate was the same as that in June, thanks to the government macro-control measures, the National Bureau of Statistics said Wednesday.

The uptrend in the prices of industrial products and major raw materials began to be held back because of the effect of the government's measures to cool down some over-heated sectors of the economy, the bureau said in a report.

    In July, the growth rate of the ex-factory price of industrial products fell by 0.2 percentage points from June, and that of the purchasing price of raw materials, fuel and energy shed 0.1 percentage points.

 The statistical report indicates the price of coal continued to rise steadily amid the continuous drop in that of rolled steel, while the price of nonferrous metals tended to fall.

    Compared with a year earlier, the ex-factory price of capital goods increased by 8.2 percent in July, which the bureau said was relatively high. Crude oil, for example, jumped by 25 percent and the growth rate, which was 4.1 percentage points higher than that in June, contributed 0.8 percentage points to July's hike in the price of industrial products.

    As for January-July period, the ex-factory price of industrial product rose by 4.9 percent from a year earlier, while the buying price of raw materials, fuel and energy grew by 10.1 percent.