China's production materials prices continued to drop in November on rising expectation for interest rate hike by U.S. Federal Reserve and sharp decline of commodity prices.
The China Federation of Logistics and Purchasing (CFLP) reported on Monday that China's production materials prices fell 2.2 percent on month in November, with the rate 0.93 percentage point more than that for October.
Data also showed production material prices slipped 18.32 percent in November from a year earlier, 1.78 percentage points faster than the decline in October. Specifically, car prices recovered moderately and coal prices and timber prices stayed flat from the previous month, while all other categories saw month-on-month price drop.
Prices of nonferrous metals recorded the largest decrease of over 7 percent and the trend has maintained for six straight months. Moreover, prices of ferrous metals, chemical products and building materials reported declines of over 2 percent.
Analysts say affected by external factors, domestic market demand and confidence showed fluctuations, which increased downward pressure on the economy.
Latest comments