China’s food prices dip last week

2016-10-25
Xinhua

BEIJING — Food prices in China edged down last week, on the back of cheaper vegetables and fish, with inflation running below the government target.

The average price of 30 types of vegetable between Oct 17 and 23 decreased 0.3 percent from a week earlier, the Ministry of Commerce said on Oct 25.

Prices of cauliflowers, Chinese cabbage and asparagus declined 7.7 percent, 6.1 percent and 6 percent from the same period, respectively, while fish prices dipped 0.7 percent, the ministry said.

Changes in meat prices were mixed, with pork and beef prices falling 1 percent and 0.3 percent, respectively, while mutton rose 0.2 percent over the same period.

Grain prices registered a mild increase over the period, and various types of edible oil reported modest gains.

Food prices account for about one third of China’s consumer price index (CPI), the main gauge of inflation.

The CPI growth target is set at around 3 percent this year. China’s CPI grew 1.9 percent year on year in September, up from 1.3 percent in August.