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Economy

Farm produce prices post slight declines

1
2016-05-26 10:28Xinhua Editor: Mo Hong'e

Farm produce prices fell for a seventh consecutive week last week, the Ministry of Commerce said on Wednesday.

The average price of 30 kinds of vegetables fell 4.1 percent, compared to a drop of 6.9 percent a week earlier, according to the ministry's website.

White gourd, tomatoes and green onions sunk 18.3 percent, 11.9 percent and 9.1 percent week on week in a sample of 36 cities. The average price of six kinds of fruit dropped 1.3 percent.

Grain remained steady, with the flour price unchanged from a week earlier while rice edged down 0.2 percent.

Meat price movement varied, with pork rising 0.6 percent. Mutton and beef fell 0.3 percent and 0.1 percent, respectively.

Edible oil prices were slightly down. Rapeseed oil and peanut oil both edged down 0.1 percent.

Food prices account for one-third of the weighting in the calculation of China's consumer price index (CPI).

This year's target consumer price growth is set at around 3 percent, the same as in 2015. China's CPI rose 2.3 percent in April, flat from the previous two months.

  

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