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China’s weekly farm produce prices pick up

Updated: Apr 9,2019 7:58 PM     Xinhua

BEIJING — Prices of farm produce in China picked up in the last week, official data showed on April 9.

From April 1 to 7, the overall price for farm produce edged up 0.5 percent on a weekly basis, rising from a flat month-end growth the previous week, data from the Ministry of Commerce (MOC) showed.

In breakdown, the average wholesale price of 30 types of vegetables went up 0.6 percent on a weekly basis.

The wholesale price of pork and eggs both saw a slight increase from a week earlier, up 1 percent and 0.5 percent, respectively.

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

A report by the Bank of Communications financial research center predicted that the CPI is expected to see a marked increase in March with increased prices of pork, a staple meat in the country, and oil.

The CPI is likely to rise by 2 percent to 2.4 percent year-on-year last month, an acceleration from the 1.5-percent growth recorded in February, according to the report.

The National Bureau of Statistics will release the official March CPI data on April 11.

MOC data also showed that producer prices remained unchanged last week, with prices of rubber and nonferrous metal falling by 0.3 percent and 0.2 percent, respectively, from a week earlier.