Continued decline in industrial prices

1 May 2002

The ex-factory prices of industrial products fell 4.0 per cent year-on-year in March, said the National Bureau of Statistics. Prices during the first quarter of the year were down 4.1 per cent. They are regarded as an indicator of future consumer price trends.

Ex-factory prices have been falling since the middle of last year as a result of easing international oil prices and intense competition in many sectors. The bureau said that domestic oil prices remained depressed despite a recent increase in world prices.