China's Farm Produce Prices Drop Last Week

by 5m Editor
12 May 2011, at 9:31am

CHINA - The prices of China's farm produce continued to fall in the week ending 8 May, but at a slower rate than that of the previous week, the Ministry of Commerce said Tuesday.

The price of mutton and beef dipped 0.9 per cent and 0.2 per cent, respectively, while the price of pork and chicken rose 0.1 per cent from a week ago.

The retail price of eggs rebounded 0.3 per cent last week from the week before, snapping a continuous fall since mid-February.

Food prices accounted for one third of the calculation of consumer price index, a main gauge of inflation, in China, which rose to a 32-month high of 5.4 per cent in March, exceeding the government's full-year target of 4 per cent.

The index data is scheduled to be released Wednesday and is estimated to be above 5 per cent but lower than the March figure.