China's weekly farm produce prices continue to retreat

Time: 2019-04-24
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Prices of farm produce in China continued to retreat last week, data from the Ministry of Commerce (MOC) showed.

From April 15 to 21, the overall price for farm produce edged down 0.8 percent on a weekly basis, following a 0.5-percent drop in the previous week.

In breakdown, the average wholesale price of 30 types of vegetables went down 3.5 percent on a weekly basis.

The wholesale price of pork and beef both saw a decrease from a week earlier, down 1.2 percent and 0.3 percent, respectively.

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 2.3 percent year on year in March, compared with 1.5-percent growth in February.

MOC data also showed that producer prices picked up last week, with prices of steel rising 0.6 percent from a week earlier.

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