Based on the latest statistics, the growth rate of the price of China’s goods are continuing to fall in October.

According to the statistical report released by National Bureau of Statistics of China on November 11, 2005, in October, China’s consumer price index rose by 1.2% year on year, the growth rate fell by 3.1 percentage points compared with the same period last year. In September, the growth rate of China’s consumer prices fell by 4.3 percentage points compared with the same period last year.

The statistics showed that in October, China’s price of foodstuff rose by 1.3% year-on-year, the price of non-food items rose by 1.2%; consumer product prices rose by 0.7% and the prices of services rose by 3.1%.

In October, China’s food prices fell by 0.8% year on year, the price of Western medicine fell by 1.7%, the price of traffic facilities fell by 1.8%, the price of communication equipment fell by 15%; the cost of medical treatment and heath care service rose by 7.4%, the cost of fuel and spare parts for vehicles rose by 10.6%.

The statistics also showed that China’s consumer price index rose by 1.9% year-on-year in the first ten months of 2005 while the growth rate fell by 2.2 percentage points compared with the same period last year.