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China's farm produce prices see slower declines

Xinhua | Updated: 2018-07-10 14:44
Consumers buy vegetables at a market in Qingdao, Shandong province. [Photo by Yu Fangping/For China Daily]

BEIJING - China's farm produce prices saw slower declines in the week ending July 8, as vegetable prices stabilized, according to data from the Ministry of Commerce Tuesday.

The price index for farm produce edged down 0.1 percent in the past week, narrowing from a 0.8 percent fall the previous week. The index for production materials fell 0.5 percent.

The average wholesale price of 30 kinds of vegetable went up 0.3 percent, compared with a 2.7 percent drop the week earlier.

The wholesale price of pork, the country's staple meat, rose 0.7 percent from the previous week. The price of beef gained 0.4 percent and mutton went up 0.1 percent. The wholesale price of eggs fell 1.2 percent.

Food accounts for about one-third of China's consumer price index.

China's consumer price index, a main gauge of inflation, rose 1.9 percent year-on-year in June, compared with 1.8 percent for May, data from the National Bureau of Statistics showed Tuesday.

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