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Farm produce prices continue to fall

Updated: Jun 15,2016 10:37 AM     Xinhua

Farm produce prices continued their downward trend last week, the Ministry of Commerce said on June 14.

The average price of 30 types of vegetables fell 2.7 percent, compared to a drop of 2.6 percent a week earlier, according to the ministry’s website.

Potato, carrot and white gourd fell 13.8 percent, 12.1 percent and 11.5 percent, respectively, from the previous week in a sample of 36 cities. The average price of six kinds of fruit dropped 0.5 percent.

Grain remained steady, with flour prices unchanged from a week earlier, while rice edged down 0.4 percent.

Changes to meat prices varied, with pork falling 0.4 percent. Mutton remained unchanged, and beef edged up 0.1 percent.

Food prices account for one-third of the calculation of China’s consumer price index (CPI).

This year’s target consumer price growth is set at around 3 percent, the same as in 2015. China’s CPI rose 2 percent in May, down from the 2.3 percent growth rate registered in the previous three consecutive months.

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