Prices of vegetables fall in China after six week rise

Prices of vegetables fall in China after six week rise

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The prices of vegetables in 36 of the major Chinese cities have dropped last week. The ministry of Commerce have indicated that the prices of the vegetables have come down after a rise for six consecutive weeks.

The wholesale prices of about 18 types of vegetables were monitored by the ministry. The prices fell by 2.7 percent from one week as the prices of cucumber and lettuce fell by 13.7 percent 12.8 percent and 5.6 percent respectively. A statement released by the ministry’s website on September 4, 2012 had indicated the fall of prices.

On the other hand the retail prices of eggs continued to climb up to 1.3 percent week on week but was still down 2.5 percent from the same period past year. It was also observed that the wholesale price of pork which is a staple meat in the country went up to 0.6 percent from the previous week but was still 22.6 percent lower compared with the same period last year.

The prices of food account for about one third of the prices used to calculate the nation’s consumer price index which eased to 1.8 percent in the month of July, its lowest since January 2010. The Analysts have expected that the CPI would rebound above 2 percent in the month of August due to continuous increase in food prices.