BEIJING - China's prices for farm produce and producer goods fell week-on-week, the Ministry of Commerce (MOC) said Wednesday.! M. ]3 K7 W+ e) y3 X7 I
During the week that ended November 28, vegetable prices continued to drop as most regions have been working hard to ensure winter vegetable supplies, said a statement on the MOC's website.
5 e9 m$ s# ?# w9 [! t3 i6 X Wholesale prices of 18 staple vegetables went down 5.9 percent from the previous week. The decrease was 3.3 percentage points more than in the previous week.! X/ a# ^7 E( k# D/ Z% U" p) j: ]
Further, the prices of eight seafood products went down 0.1 percent week-on-week.% l. m, J# n4 A
Also, beef prices shrank 0.1 percent week-on-week. Pork prices went up 0.3 percent, but the growth rate was 1.9 percentage points lower than the previous week.
" a2 E; S$ W' k Food prices account for about one-third of the weighing in China's consumer price index (CPI), a major gauge of inflation, and the falling farm produce prices are expected to ease some inflationary pressure for the government.
* k% H( o: A5 w China's CPI rose to a 25-month high of 4.4 percent year-on-year in October and the hike was largely contributed by a 10.1 percent surge in food prices. |