April 10, 2012
China's food prices drop last week
The Ministry of Commerce said Thursday (Apr 5) that key food prices in China mostly fell in the week to Sunday (Apr 1).
China's food-price movements indicate inflationary pressures as food accounts for about a third of its consumer price index.
Pork, a major indicator of inflation, fell 1.7% in a ninth consecutive weekly decline, the ministry said. Pork prices have fallen 11.5% since late January, the ministry said.
Vegetable prices declined 1.3%, snapping four weeks of increases that had taken prices up 10% in a month.
Beef prices were flat while chicken prices rose 0.1%, the ministry said.
Egg prices fell 0.2% on week.
