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China's Meat, Produce Prices Continue to Retreat

07 June 2017

CHINA - Prices of meat and vegetables continued to drop in major Chinese cities last week, official data showed Tuesday.

Egg prices fell one per cent last week. The price of pork dropped 1.6 per cent and lamb prices remained stable, according to the statement.

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

China's inflation held steady in April, reinforcing views about stabilization in the economy and giving policymakers more leeway to tighten regulations.

The CPI rose 1.2 per cent year-on-year in April, against 0.9 in March, as higher prices for non-food commodities outweighed an ongoing decline in food prices, data from the National Bureau of Statistics (NBS) showed last month.

Growth remains below the government's annual target of around 3 per cent set for 2017.

The official CPI for May is due to be released by the NBS on 9 June.

ThePigSite News Desk



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