Financial news

China’s weekly farm produce prices rise 4.6 pct

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Via China Daily

Villagers dry corn in Zhangye, Gansu province, in September. [WANG JIANG / FOR CHINA DAILY]

BEIJING – Prices of farm produce in China continued to rise last week, data from the Ministry of Commerce showed Wednesday.

From Oct. 21 to 27, the overall price of farm produce went up 4.6 percent on a weekly basis, following a 2.6-percent gain in the previous week.

In breakdown, the wholesale price of pork went up 11 percent, with the growth widening from the 8.6-percent gain in the previous week.

Beef and mutton prices edged up 1.2 percent and 1.7 percent from the previous week respectively, while egg prices saw a 5.3-percent rise.

Food accounts for about one-third of China’s consumer price index (CPI), a main gauge of inflation.

Data showed China’s CPI rose 3 percent year on year in September, expanding from the 2.8-percent growth registered in August.


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