China's sale price of housing in 70 cities rises

The price of housing in 70 of China's big and middle-sized cities rose by 5.6 percent in the first three quarters of the year compared to the same period of last year, according to data issued by the National Statistics Bureau (NBS) on October 19.

The data also shows that overall level of consumer prices rose increased by 1.3 percent in the first three quarters compared to the same period of last year, but the rate of increment fell by 0.7 percent.

The breakdown is as follows: the price of food rose by 1.8 percent; the price of services increased by 2 percent; housing prices rose by 4.7 percent; the cost of medical care and personal items by 1.1 percent; and the cost of transportation and communication declined by 0.2 percent.

The government's goal this year is to keep the overall rate of increment on consumer goods to below 3 percent.

Consumer prices in the first quarter rose by 1.2 percent based on last year's figures from the same period.

Consumer prices had increased by 1.3 percent at the end of both the second and third quarters.

In the first three quarters, the factory price of industrial products rose by 2.9 percent, and the rate of increment fell by 2.5 percent. The purchasing price of raw materials, fuel and power increased by 6.3 percent and rate of increment fell by 2.9 percent.

By People's Daily Online