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Aquatic Product Prices Down Slightly Last Week

Economics +1 more

CHINA - while aquatic product prices fell, China's prices for most farm produce continued to rise in the week ending 9 October, the Ministry of Commerce (MOC) said in a report unveiled yesterday.

The prices of mutton, beef and chicken rose 0.5 per cent, 0.3 per cent and 0.2 per cent, respectively, week-on-week, according to the report.

Compared to the previous week, the retail prices of rice and flour climbed 0.2 per cent, and the prices of colza oil and soybean oil rose slightly by 0.1 per cent.

Due to a larger supply, the retail prices of eggs dipped 0.3 per cent from last week, down 0.5 per cent compared to the end of September, and the wholesale prices of eight aquatic products fell by 1.1 per cent week-on-week.

Food prices account for about one third in the calculation of China's consumer price index (CPI), a major gauge of inflation, which hit 6.2 per cent in August.

The National Bureau of Statistics will release the September CPI on 14 October. Many institutions anticipate the figure will remain over six per cent.