Prices of capital goods drop in China

BEIJING — Data showed that more than half of capital goods monitored by the government posted lower prices in late May 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 saw their prices drop during May 21 to 30, while 15 posted higher prices and 6 remained unchanged, according to the National Bureau of Statistics.

Prices of liquefied natural gas went up by 0.6 percent while that of live pigs increased by 1.3 percent.

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