Prices of most production goods decline in China

China's official data showed most production goods monitored by the government posted lower prices in the middle 10 days of November compared with the previous 10 days.

Of the 50 major goods monitored by the government, including seamless steel tubes, gasoline, coal, fertilizer and some chemicals, 29 goods saw their prices fall during the period, data showed.

According to the National Bureau of Statistics (NBS), eight major goods saw their price rise and 13 unchanged during the period, reports Xinhua.

Prices of cement and coke picked up notably while methyl alcohol, liquefied petroleum gas and gasoline led the declines, according to the NBS. Prices of agricultural products including corn and peanut gained.

The reading, released every 10 days, is based on a survey of nearly 1,700 wholesalers and distributors in 24 provinces and regions.

The data came after the country's producer price index, which measures costs of goods at the factory gate, rose 3.3 per cent year on year in October, with the pace of growth down further from 3.6 per cent in September and 4.1 per cent in August.