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China's Farm Produce Prices Rebound

by 5m Editor
12 July 2012, at 8:50am

CHINA - China's farm produce prices rebounded last week after high temperatures and rainy weather affected vegetable growth and transportation, according to an official statement released Tuesday.

The wholesale prices of 18 types of vegetables rose 1.4 per cent last week from the week before, the first increase after declining for two months in a row, the Ministry of Commerce said in a statement posted on its website.

The price of pork, a staple meat in China, rose 0.2 per cent from the week before but was still down 22.8 per cent compared with a year earlier, the ministry said.

The retail price of eggs decreased for a third week, down 0.6 per cent from the previous week.

The rebound comes amid easing inflationary pressure. The National Bureau of Statistics said that China's consumer price index, a main gauge of inflation, eased to 2.2 per cent in June, its lowest level since January 2010.