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China's Farm Produce Prices Up

Economics +1 more

CHINA - In the week ending 27 February, farm produce prices in China rose slightly compared to the previous week, the Ministry of Commerce (MOC) said in a report released on Tuesday.

Pork prices were up 1.3 per cent. Prices of mutton went up 0.5 per cent. Beef prices rose 0.3 per cent.

However, price of eggs and eight kinds of sea products saw their prices dip. Egg prices were down by 0.6 per cent. Sea products prices fell 0.3 per cent.

Chinese Premier Wen Jiabao said over the weekend that maintaining the stability of prices would be the priority of China's economic development.

China's consumer price index (CPI), a major gauge of inflation, rose 4.9 per cent in January from one year earlier, pushed up by a 10.3-per cent surge in food prices due to rising demand and a prolonged drought in the country's key wheat-growing regions.

An estimate by the Bank of Communications held that the CPI was likely to rise 4.6 per cent in February.

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