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Farm Produce Prices Dropped Last Week

Economics +1 more

CHINA - The Ministry of Commerce said Tuesday that China's farm produce prices continued to fall last week as supplies increased.

Egg prices dropped 1.8 per cent from one week earlier, marking the seventh consecutive week of decline. The prices were down 4.2 per cent cumulatively from early January, the ministry said in a statement on its website.

Pork, mutton and chicken prices retreated by 1.3 per cent, 0.3 per cent and 0.2 per cent last week, respectively, while the wholesale prices of eight types of aquatic products edged up by 0.1 per cent.

The fall in farm produce prices may help ease domestic inflationary pressures as food prices have a one-third weighting in the calculation of China's consumer price index (CPI).

The CPI rebounded to 4.5 per cent in January after easing to a 15-month low of 4.1 per cent in December.