Produce and meat prices continue to rise but at slower rate

08:15, June 08, 2011      

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Produce and meat prices continued to rise in the week ending June 5 but at a slower rate than the previous week, the Ministry of Commerce (MOC) said on Tuesday.

During the week of May 30 to June 5, the price of pork rose 1.8 percent from the previous week with a growth rate down 1.1 percentage points.

The price of beef increased 0.8 percent week-on-week, with a growth rate down 0.1 percentage points. Mutton's price gained 0.5 percent week-on-week, with a growth rate down 0.5 percentage points.

The average wholesale prices of eight aquatic products climbed 0.5 percent from the previous week, with a growth rate down 0.7 percentage points.

Due to a rich supply of seasonal vegetables, the average wholesale prices of 18 vegetables dropped 5 percent, with a decline rate up 3.7 percentage points week-on-week.

Food prices carry significant weight in the calculation of the consumer price index (CPI), a major gauge of inflation, which hit 5.3 percent in April.

Source: Xinhua
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