Farm produce prices rise for 8th straight week

Updated: 2012-01-18 09:59


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BEIJING - Farm produce prices rose for an eighth consecutive week last week, while the prices of producer goods remained unchanged, the Ministry of Commerce said Tuesday.

Because of strong demand pushed up by the upcoming Spring Festival, the wholesale prices of 18 staple vegetables rose 4.9 percent week-on-week, the ministry said in a statement on its website.

Prices of balsam pears, peppers and eggplants increased 9.8 percent, 9 percent and 8.7 percent, respectively.

Meat prices also rose last week, with prices of pork, mutton and beef up 0.8 percent, 0.6 percent and 0.5 percent, respectively. Chicken prices went up 0.4 percent.

Prices of edible oil and aquatic products also gained slightly last week. But egg prices fell 0.3 percent from one week earlier, the statement said.

Food prices have a one-third weighting in the calculation of China's consumer price index (CPI), a major gauge of inflation. The CPI eased to 4.1 percent in December, the slowest rise in 15 months.

The ministry said prices of major producer goods remained unchanged or even slid last week. Prices of cement and other building raw materials fell as many construction projects have been suspended for the Spring Festival, which will fall on Jan 23.