China farm produce prices continue to rise

China farm produce prices continue to rise

Prices of farm produce in China continued to pick up last week, data from the Ministry of Commerce showed Monday.

From Sept. 9 to 15, the overall price of farm produce climbed 1 percent on a weekly basis, accelerating from the 0.9-percent increase in the previous week.

In breakdown, the average wholesale price of 30 types of vegetables went down 1.5 percent week on week, and that of six types of fruits registered a 3.2-percent drop during the same period.

The wholesale prices of pork and beef increased 4.1 percent and 2.2 percent, respectively, rising from an increase of 1.5 percent and 1.8 percent the previous week.

Egg prices saw a 2.4-percent growth while cooking oil saw a slight rise in the wholesale price.

Food accounts for about one-third of China’s consumer price index (CPI), a main gauge of inflation.

Official data showed China’s CPI rose 2.8 percent year on year in August, unchanged from that in July.

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