Chinese agri produce prices accelerate in April

Business | 15 May 2019 11:54 am

Prices of farm produce in China continued to rise in the last week amid tighter supplies, data from the Ministry of Commerce show.

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

The average wholesale prices of 30 types of vegetables gained by 1.3 percent, and the price of eggs was up by  3.5 percent.

The wholesale price of pork edged up by 0.1 percent, while that of beef went down by just 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 by 0.2 percent last week.

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