China’s weekly farm produce prices edge down
BEIJING – Prices of farm produce in China continued to decline last week, data from the Ministry of Commerce showed.
From March 23 to 29, the overall price of farm produce edged down 1.3 percent on a weekly basis.
In breakdown, the average wholesale price of 30 types of vegetables went down 3.9 percent from the previous week, while that of pork dropped by 2.1 percent.
The average wholesale prices of beef and mutton were lower by 0.2 percent and 0.5 percent, respectively, the data showed.
Poultry-related products also saw a slip, with the wholesale price of eggs down by 0.9 percent week-on-week.
Food accounts for about one-third of China’s consumer price index (CPI), a main gauge of inflation. The latest official data showed China’s CPI rose 5.2 percent year-on-year in February.