Prices growth rates fall steadily: Central bank
(Xinhua)
Updated: 2005-11-10 14:30

The year-on-year growth rates of price indexes fell steadily, but the inflationary pressure still remained, the People's Bank of China (PBOC) said in a report released Wednesday.

The PBOC statistics showed that the consumer price rose by 2.0 percent year-on-year in the first three quarters this year, up 2.8 percent, 1.7 percent and 1.3 percent in each quarter over the same period last year.

Producer price index saw a downward trend but remained at a high level. In the first three quarters, the raw materials, fuel and power purchase prices rose by 9.2 percent year-on-year, but the growth rate was 1.2 percentage point lower than the same period a year earlier.

The import and export prices also receded. Export prices registered rises of 7.6 percent, 2.6 percent and 2.5 percent in the first, second and third quarters year-on-year respectively and import prices up 10.1 percent, 6.2 percent, and down 0.9 percent year-on-year.

Although the year-on-year prices growth fell steadily, the satisfaction rate of residents towards prices was also going down, which boosted the expectation on inflation, the PBOC said.