Prices of most production goods decline in China

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BEIJING, July 24 -- China's official data showed that most production goods monitored by the government posted lower prices in the middle 10 days of July 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, 27 goods saw their prices fall during the period, with 14 posting higher prices and nine seeing their prices unchanged, according to the National Bureau of Statistics.

Prices of chemicals and steel tubes led the decline while those of live pigs and gasoline posted growth during the period, the bureau said.

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