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China’s weekly farm produce prices continue to rise

Updated: May 15,2019 11:05 AM     Xinhua

BEIJING — Prices of farm produce in China continued to rise in the last week amid tighter supplies, data from the Ministry of Commerce (MOC) showed.

From May 6 to 12, the overall price for farm produce went up 0.9 percent on a weekly basis, following a 0.5-percent gain in the previous week.

In breakdown, the average wholesale price of 30 types of vegetables gained 1.3 percent, and the price of eggs rose 3.5 percent.

The wholesale price of pork edged up 0.1 percent, while that of beef went down 0.1 percent.

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

The latest official data showed China’s CPI quickened to a six-month high in April as tighter supplies of vegetables, pork and fruit drove up food prices.

MOC data also showed that producer prices edged down 0.2 percent last week.