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Farm Produce Prices Rise on Reduced Supplies

Economics +1 more

CHINA - Prices of major farm produce monitored by the government rose last week as snow falls interrupted supplies, the Ministry of Commerce said Tuesday.

The wholesale prices of eight staple aquatic products gained 0.3 per cent last week, with the price of grass carp up 2.1 per cent.

Meanwhile, the price of pork, which was the main driver of the nation's inflation last year, fell for seventh consecutive weeks last week, down 1.3 per cent. Egg prices dropped 0.1 per cent during the period.

Food prices have a one-third weighting in the calculation of China's consumer price index (CPI), a major gauge of inflation. The country's CPI eased to 3.2 per cent last month, down from 4.5 per cent in January.