Farm produce prices post mild declines

Source: Shanghai Daily | July 12, 2016, Tuesday |

Online Edition

Farm produce prices posted mild declines last week, the Ministry of Commerce said on Tuesday.

The average price of six types of fruit fell 1.5 percent, compared to a drop of 0.7 percent a week earlier, according to the ministry's website.

Meat prices were broadly lower, with pork falling 1.1 percent. Mutton and beef edged down 0.4 percent and 0.1 percent, respectively.

Changes to grain prices varied. Flour dipped 0.3 percent, while rice increased 0.2 percent.

Vegetable prices rose, partly because rain in the country's southern regions disrupted vegetable supplies.

Rape, garlic and cauliflower jumped 12.2 percent, 10.8 percent and 8.7 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 around 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.

Economy

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Farm produce prices post mild declines

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