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China's Farm Produce Prices See Slower Declines

10 July 2018

CHINA - China's farm produce prices saw slower declines in the week ending 8 July, as vegetable prices stabilized, according to data from the Ministry of Commerce Tuesday.

The price index for farm produce edged down 0.1 per cent in the past week, narrowing from a 0.8 per cent fall the previous week. The index for production materials fell 0.5 per cent.

The average wholesale price of 30 kinds of vegetable went up 0.3 per cent, compared with a 2.7 per cent drop the week earlier.

The wholesale price of pork, the country's staple meat, rose 0.7 per cent from the previous week. The price of beef gained 0.4 per cent and mutton went up 0.1 per cent. The wholesale price of eggs fell 1.2 per cent.

Food accounts for about one-third of China's consumer price index.

China's consumer price index, a main gauge of inflation, rose 1.9 per cent year-on-year in June, compared with 1.8 per cent for May, data from the National Bureau of Statistics showed Tuesday.

TheCattleSite News Desk


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