June 8, 2011
Meat price hike slows in China
Produce and meat prices in China continued to rise in the week ending June 5 but at a slower rate than the previous week, the Ministry of Commerce (MOC) said Tuesday (Jun 7).
During the week of May 30 to June 5, the price of pork rose 1.8% from the previous week with a growth rate down 1.1 percentage points.
The price of beef increased 0.8% on-week, with a growth rate down 0.1 percentage points. Mutton's price gained 0.5% on-week, with a growth rate down 0.5 percentage points.
The average wholesale prices of eight aquatic products climbed 0.5% from the previous week, with a growth rate down 0.7 percentage points.
Due to a rich supply of seasonal vegetables, the average wholesale prices of 18 vegetables dropped 5%, with a decline rate up 3.7 percentage points on-week.
Food prices carry significant weight in the calculation of the consumer price index (CPI), a major gauge of inflation, which hit 5.3% in April.
