China farm produce prices rise modestly

Time: 2019-07-16
Summary: GROUTING CHINA STEEL

China's farm produce prices posted modest increases last week, the Ministry of Commerce (MOC) said Tuesday.

From July 8 to 14, the overall price of farm produce rose 0.9 percent on a weekly basis, following a 0.4-percent increase in the previous week.

The average wholesale price of 30 types of vegetables went up 1.7 percent from a week ago, while wholesale prices of pork went up 1.8 percent.

The wholesale prices of beef and mutton increased 0.2 percent and 0.6 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 2.2 percent in the first half of the year as tighter supplies of pork and fruit drove up food prices.

MOC data also showed that producer prices edged up 0.1 percent last week.

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