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China's weekly farm produce prices retreat

BEIJING
2020-03-11 15:27

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Prices of farm produce in China retreated last week, data from the Ministry of Commerce (MOC) showed Wednesday.

From March 2 to 8, the overall price of farm produce edged down 1 percent on a weekly basis.

In breakdown, the average wholesale price of 30 types of vegetables went down 3.2 percent from the previous week, while that of pork dropped by 0.5 percent.

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 5.2 percent year on year in February.

MOC data also showed that producer prices decreased by 0.5 percent last week.
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