China’s weekly farm produce prices retreat

Xinhua News Agency | May 19, 2020 at 7:08 AM

BEIJING, May 19 (Xinhua) -- Prices of farm produce in China declined last week, data from the Ministry of Commerce showed on Tuesday.

From May 11 to 17, the overall price of farm produce edged down 2.7 percent from the previous week.

In breakdown, the average wholesale price of 30 types of vegetables declined by 2.8 percent from a week earlier, while that of pork dropped by 7.4 percent.

During the previous week, the average wholesale price of beef remained flat, while that of mutton registered a drop of 0.4 percent, the data showed.

Poultry-related products also saw a slip, with the wholesale price of eggs edging down by 2.4 percent week on week.

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 3.3 percent year-on-year in April.