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People's Daily Online>>China Business

China's farm produce prices continue to rise: MOC

(Xinhua)

19:22, December 06, 2011

BEIJING, Dec. 6 (Xinhua) -- China's farm produce prices rose for a second consecutive week last week as low temperature reduced supplies, the Ministry of Commerce (MOC) said Tuesday.

The wholesale price of 18 staple vegetables increased by an average of 4.7 percent last week from the previous week and by 9.8 percent in the past month, said the MOC in a statement.

"As temperature dropped and some areas were hit by snow and rain, the production and distribution of vegetables were affected," said the statement.

The average wholesale price of eight types of seafood edged up 0.9 percent, while mutton and beef prices went up 0.6 percent and 0.5 percent respectively, according to the statement.

Pork prices dropped 1.2 percent last week and chicken prices fell 0.3 percent, it said.

The retail price of eggs decreased for the 10th consecutive week, down 0.7 percent from the previous week, marking a decline of 5.6 percent from the end of September.

Food prices have a one-third weighting in the calculation of China's consumer price index (CPI), a major gauge of inflation.

The country saw the year-on-year CPI growth rate ease to 5.5 percent in October from this year's peak of 6.5 percent in July.

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