Farm produce prices continue to rise last week
Farm produce prices continued their upward trend last week, driven by vegetables, the Ministry of Commerce said.
The average price of 30 types of vegetable jumped 10.5 percent, compared to an increase of 4.5 percent a week earlier, according to the ministry website. Grain prices were largely stable. Prices of tomatoes, zucchini and beans soared 27.7 percent, 25.3 percent and 23.5 percent, respectively.
Food prices account for onethird of the calculation of China’s consumer price index (CPI).
This year, the target consumer price growth is set at 3 percent, the same as in 2015. China’s CPI grew 1.8 percent year on year in July, virtually unchanged from 1.9 percent in June.