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China’s weekly farm produce prices retreat slightly

Updated: May 22,2019 9:09 AM     Xinhua

BEIJING — Prices of farm produce in China slightly retreated last week, data showed on May 21.

From May 13 to 19, the overall price of farm produce edged down 0.2 percent on a weekly basis, following a 0.9-percent gain the previous week, Ministry of Commerce (MOC) data showed.

In breakdown, the average wholesale price of 30 types of vegetables went down 2.7 percent.

The wholesale price of pork edged down 0.5 percent while that of beef went up 0.2 percent.

Food accounts for about one-third of China’s consumer price index, 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.