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China’s farm produce prices retreat slightly

Updated: Jun 13,2018 7:22 AM     Xinhua

BEIJING — China’s farm produce prices fell slightly the week ending June 10 due to falling vegetable prices, according to the Ministry of Commerce.

The price index for farm produce edged down 0.2 percent in the past week, compared with a 0.5 percent rise the previous week. The index for production materials went up 0.6 percent.

The average wholesale price of 30 kinds of vegetables dropped 0.3 percent from a week earlier.

The wholesale price of pork, the country’s staple meat, rose 0.1 percent from a week earlier. The price of beef remained flat while lamb fell 0.4 percent.

The wholesale price of eggs fell 0.1 percent.

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

China’s consumer price index rose 1.8 percent year-on-year in May. Food prices edged up by 0.1 percent, resulting in a growth of 0.01 percentage points in the price index.