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Means of production prices rise in China

The majority of the capital goods monitored by China’s statistical authorities registered higher prices in late August compared to mid-August, official data showed.

Of the 50 major goods classified in nine categories, including seamless steel tubes, gasoline, coal, fertilizer, and some chemicals, 32 reported higher prices in the period, 14 saw price declines, while the prices of four remained unchanged, according to the National Bureau of Statistics (NBS).

Specifically, the price for liquefied natural gas (LNG) increased by 3.2 percent in late August compared to mid-August, and the price of sulfuric acid went up 18.3 percent.

During the same period, hog prices decreased by 0.6 percent, according to the NBS data.

The figures, released every 10 days, are based on a survey of nearly 2,000 wholesalers and distributors in 31 provincial-level regions across the country.
Source: Xinhua

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