Economy
Farm produce prices drop last week
Updated: 2011-05-11 09:14
(Xinhua)
BEIJING -- The prices of China's farm produce continued to fall in the week ending May 8, but at a slower rate than that of the previous week, the Ministry of Commerce said Tuesday.
During the week of May 2 to 8, the average wholesale prices of 18 types of vegetables dropped 3.1 percent from the previous week, the ministry said in a statement on its website. The decline rate was 1.1 percentage points lower than that of the previous week, it said.
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The price of mutton and beef dipped 0.9 percent and 0.2 percent, respectively, while the price of pork and chicken rose 0.1 percent from a week ago.
The retail price of eggs rebounded 0.3 percent 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 percent in March, exceeding the government's full-year target of 4 percent.
The index data is scheduled to be released Wednesday and is estimated to be above 5 percent but lower than the March figure.
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