China's Farm Produce Prices Up Last Week, MOFCOM Says

Date:2011-10-12litingting  Text Size:

 October 12, Prices of most farm produce in China continued to rise in the week ending Oct. 9, including a 1.7% rise in the average wholesale prices of 18 staple vegetables, the Ministry of Commerce (MOFCOM) said on Tuesday.

Shrinking supplies due to lower temperature in late summer constitute the major reason behind the rises in vegetable prices, according to MOFCOM.

The price of mutton, beef and chicken grew 0.5%, 0.3% and 0.2% week-on-week, respectively.

Prices of rice increased 0.2% from the previous week, while colza oil and soybean oil prices edged up 0.1% w-o-w, the ministry said.

Retail prices of eggs fell 0.3% from last week as supplies increased.

Growth in food prices is a major contributor to the rise in China's consumer price index (CPI), a major gauge of inflation that hit 6.2% in August, ending a three-year high of 6.4% recorded in June.

The National Bureau of Statistics will release the September CPI on Oct. 14.

edited by Kendra KE

2005-2011 All Rights Reserved 京ICP备05069564号-1