February 26, 2013

China sees decline in meat and vegetable prices

China's farm produce prices have witnessed a significant drop since mid-February.

The average price of 21 monitored vegetables declined 11.2% from 10-22 February, while the price of eggs was down 0.4%.

The price of pork, a staple meat in China, dipped mildly, but the price for chicken held steady. Prices of beef and mutton also nudged down.

Food prices account for about one-third of the prices used to calculate the consumer price index (CPI), a main gauge of inflation, in China.

China's consumer price inflation fell to 2.0% on year in January, down from a seven-month high of 2.5% in December.