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China’s weekly farm produce prices pick up

Updated: May 7,2019 7:53 PM     Xinhua

BEIJING — Prices of farm produce in China picked up slightly in the last week, data from the Ministry of Commerce (MOC) showed.

From April 29 to May 5, the overall price for farm produce edged up 0.5 percent on a weekly basis, following a 0.4-percent drop in the previous week.

In breakdown, the average wholesale price of 30 types of vegetables went up 0.4 percent on a weekly basis.

The wholesale price of pork saw an increase from a week earlier, up 0.3 percent, while that of beef went down 0.2 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 rose 2.3 percent year-on-year in March, compared with 1.5-percent growth in February.

MOC data also showed that producer prices edged up last week.