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China’s farm produce prices continue to climb

Updated: Aug 21,2018 7:54 PM     Xinhua

BEIJING — Prices of farm produce in China continued to climb in the week ending Aug 19, with a rise in the cost of 30 types of vegetables and poultry products, data from the Ministry of Commerce showed on Aug 21.

The price index for farm produce went up 1 percent in the past week, following a 0.8 percent gain the previous week, while the index for production materials edged up 0.1 percent.

The average wholesale price of 30 types of vegetables went up 1 percent, compared with a 1.3 percent rise the week earlier.

The wholesale price of pork, the country’s staple meat, rose 1.1 percent from the previous week. The price of beef went up 0.1 percent and lamb 0.2 percent, with eggs surging 7.3 percent.

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

China’s consumer price index, a main gauge of inflation, rose 2.1 percent year-on-year in July, faster than the 1.9-percent rate recorded in June, according to the National Bureau of Statistics.