China's farm produce prices continue to climb

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Farm produce prices in China continued to climb during the last week of August as unfavorable weather conditions across the country affected supply, data from the Ministry of Commerce showed Tuesday.

The price index for farm produce went up 1.6 percent in the past week, following a one percent increase the previous week, while the index for production materials edged up 0.1 percent.

The average wholesale price of 30 types of vegetables surged 6.1 percent, compared to the one percent rise from the previous week.

Tang Ke, an official with the Ministry of Agriculture and Rural Affairs, attributed the rebound to high temperatures across the country, as well as typhoon and geological disasters in some main producing areas.

But as the seasonable fluctuations gradually fade, the market supply will pick up to stabilize prices, according to Tang.

Tuesday's data also showed the wholesale price of pork, the country's staple meat, fell 0.1 percent from the previous week. The cost of beef went up 0.5 percent and lamb 0.3 percent, with eggs surging to 4.3 percent.

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

China's consumer price index, a main gauge of inflation, rose 2.1 percent year-on-year in July, faster than the 1.9-percent rate recorded in June, according to the National Bureau of Statistics.

Source(s): Xinhua News Agency