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Farm produce prices gain last week, pushed up by rising demand


10:32, January 06, 2012

BEIJING, Jan. 5 (Xinhua) -- Farm produce prices in China recorded slight gains for the week ending on Jan. 1 from the previous week, according to data released Thursday by the Ministry of Commerce.

Meat prices rose as consumption for meat products peaked. Prices of mutton, beef and pork were up 0.7 percent, 0.5 percent and 0.3 percent, respectively. Chicken prices went up 0.1 percent.

Due to cold weather, increasing transportation costs and stronger demand, 18 types of vegetables saw an average price rise of 3.4 percent, the data showed.

Prices of edible oil gained slightly while the price of rice increased 0.2 percent. Prices of eggs and flour were unchanged.

The gains in food prices, which account for roughly one-third of the basket of goods used to calculate the consumer price index (CPI), a main gauge of inflation, remain an important and sensitive element in contributing to higher inflation. The CPI eased to 4.2 percent in November, the slowest rise in 14 months.


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