China Reports Drop in Food Price22 January 2014
CHINA - Farm produce prices in 36 major Chinese cities dropped slightly in the week ending 19 January compared with the previous week, according to a Ministry of Commerce statement on Tuesday (21 January).
The average wholesale price of aquatic products dropped 0.1 per cent, according to the statement.
The cost of pork went down 1.3 per cent, while beef stayed flat and mutton rose 0.6 per cent.
Food accounts for about one third of China's consumer price index (CPI),a main gauge of inflation.
December's CPI rose 2.5 per cent year on year, down from 3 per cent in November and 3.2 per cent in October, according to the National Bureau of Statistics.
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