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October 12, 2011

 

China's weekly pork prices flat
 

 

Edible farm produce prices in China grew slightly in the week ended on October 9, with pork price was unchanged from the previous week, the Ministry of Commerce (MOC) said.

 

In a breakdown, average wholesale prices for the 18 types of vegetables climbed 1.7% on-week.

 

Meanwhile, meat price went up moderately. The price of mutton, beef and chicken rose 0.5%, 0.3%, and 0.2% from the previous week, respectively, while pork price was the same as the previous week.

 

Retail price of grain and oil went up steadily. Retail prices of rice and flour both went up 0.2% from the previous week; while prices of rapeseed oil and soyoil increased 0.1%; and price of peanut oil were unchanged.

 

Egg price fell 0.3% from the previous week on increase of supply, and wholesale prices of aquatic products declined 1.1%.

 

Latest statistics show that the country's Consumer Price Index (CPI), the main gauge of inflation, grew 6.2% on-year in August.

 

Food price rise remains the biggest factor pushing up CPI growth in August. Food price went up 13.4% on-year in August, contributing 4.02 percentage points to the CPI growth.

 

Noticeably, pork price went up 45.5% on-year in August, contributing 1.27 percentage points to the CPI growth.

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