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Farm produce prices stay broadly flat

Updated: Aug 2,2016 4:51 PM     Xinhua

BEIJING — Farm produce prices stayed almost flat last week, the Ministry of Commerce said on Aug 2.

The average price of six types of fruit fell 1.7 percent, compared to a drop of 2.1 percent a week earlier, according to the ministry website.

Changes to meat prices varied. Beef edged up 0.2 percent. Pork and mutton fell 0.6 percent and 0.5 percent respectively.

Grain prices were unchanged, while soybean oil and peanut oil both grew 0.1 percent.

Vegetable prices continued their upward trend. The average price of 30 types of vegetable increased 1.5 percent.

Tomato, lettuce and cucumber jumped 9.9 percent, 8.1 percent and 6.2 percent respectively.

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 3 percent, the same as in 2015. China’s CPI rose 1.9 percent in June, down from the 2 percent growth rate registered in May.

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