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China's Farm Produce Prices Retreat Slightly

Economics +1 more

CHINA - The prices of farm produce in 36 major Chinese cities slightly retreated for a second straight week due to rising supplies, the Ministry of Commerce said on Tuesday (2 July).

The wholesale prices of 18 kinds of vegetables went down 4.6 per cent last week from a week earlier, while the prices of eight aquatic products shed 0.4 per cent.

The cost of eggs dipped 0.1 per cent week on week, but the price of pork, the country's staple meat, gained 0.5 per cent, the ministry said.

Food prices account for about one-third of the prices used to calculate China's consumer price index (CPI), a main gauge of inflation.

China's CPI growth slowed to 2.1 per cent in May.

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