China's farm produce prices see slower growth last week

BEIJING - The price index for China's farm produce rose at a slower pace in the week ending Feb 4, the Ministry of Commerce said Tuesday.

The price index for farm produce went up 0.9 percent in the past week, compared with a 1.5 percent expansion the previous week. The index for production materials edged down 0.2 percent.

The average wholesale price of 30 kinds of vegetables climbed 2.2 percent from a week earlier, retreating from a 5.7 percent rise in the previous week.

The wholesale price of beef and mutton rose 0.5 percent and 0.7 percent, respectively, while that of pork edged down 0.4 percent.

The wholesale price of eggs increased 0.3 percent.

Food accounts for about one third of China's consumer price index (CPI).

CPI rose 1.6 percent year-on-year in 2017, down from 2 percent for 2016 and well within the government target of around 3 percent.