Factory Price of Industrial Goods up 6.8% in August

The general level of factory price of industrial goods throughout the country was increased by 6.8% over the same month of the previous year in August

In August, influenced by the rise in petroleum price in the world and the price rebound of major means of production, steel products for example, the factory price of industrial goods was up by 6.8% over the same period of the previous year, and the growth rate was up by 0.4% over July; the purchase price of raw materials, fuels and power was up by 12.9% and the growth rate was up by 0.9% over July.

As seen from the monthly link relative price variations that shows the fluctuation of the spot rate, the factory price of industrial goods in August was up by 0.6% over July, and the growth rate was up by 0.2% over July; the purchase price of raw materials, fuels and power was up by 1% and the growth rate was up by 0.6% over July.

1. The price of means of production rose greatly as compared with the same period of the previous year and it was also somewhat increased as to the link relative growth. As compared with the same month of the previous year, the factory price of means of production was up by 8.7% in August, and the growth rate was up by 0.5% over that in July, and the factory price of industrial products was up by about 6.4% under this influence. Wherein the product price of the extractive industry was up by 23.1%, that of the raw materials was up by 11.4% and that of the processing industry was up by 4.9%. The factory price of the means of livelihood was up by 1.6% over the same month of the previous year, and the growth rate was up by 0.2% over July, and the factory price of industrial goods was up by 0 .4%. Wherein the factory price of food was up by 6%, that of clothing was up by 1.2%, and the growth rate was almost the same as that of the previous month; the price of household products was up by 1.8%, and the growth rate was up by 0.3% over that in July; the price of hard goods was down by 3.6% and the drop rate was reduced by 0.5% over that in July.

As seen from the monthly link relative price fluctuations, the factory price of both means of production and means of livelihood was somewhat promoted. In August, the factory price of means of production was up by 0.8%, and the growth rate was up by 0.4% over July; the factory price of means of livelihood was up by 0.1% and the former dropping trend was changed.

2. The price of steel products was somewhat recovered. The factory price of the ferrous metal smelting and extrusion processing industry was up by 17.1% over the same month of the previous year and the growth rate was up by 0.9% over July. Wherein the price of common heavy sections was up by 18.2%, that of common medium sections was up by 16.7%, that of common light sections was up by 17.3%, and that of wire stock was up by 18.5%, and the growth rate was up by 1-5% respectively over July.

3. The factory price of coal was promoted slightly. As compared with the same month of the previous year, the factory price of coal exploitation and washing industry was up by 18.6%, and the growth rate was up by 0.2% over that in July. Wherein the factory price of raw coal was up by 20.2% and the growth rate was up by 0.4% over July.

4. The price of crude petroleum and oil products kept on rising. In August, the market price of crude oil in the world kept on growing and the oil price hit records time after time. Under this influence, the price of crude oil and oil products in China was also promoted. The factory price of the crude oil was up by 26.6% over the same month of the previous year, and the growth rate was up by 1.6% over July, and the factory price of industrial goods was up by 0.9% due to the influence. The price of petrol, kerosene and diesel oil among oil products was up by 12.3%, 25.2% and 19.8% respectively and the growth rate was higher than that in July.

5. The price of non-ferrous metal kept on growing. The factory price of the non-ferrous smelting and extrusion industry was up by 19.8% over the same month of the previous year and the growth rate was up by 0.2% over that in July. The price of ten kinds of non-ferrous metals grew rapidly, wherein three non-ferrous metals enjoyed a price rise over 40%, including nickel (40.1%), lead (50.4%) and tin (68.2%). The price growth of zinc, tin and mercury was somewhat dropped over that in July.

As compared with the same period of the previous year, the factory price of industrial goods during January- August was up by 5.2%, and the purchase price of raw materials, fuels and power was up by 10.4%.