China's Farm Produce Prices Dropped Last Week
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.
12 May 2011
1 minute read
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.
TheCattleSite News Desk
