China's farm produce prices slightly higher

Farm produce prices in 36 major Chinese cities rose slightly in the week ending Dec. 8 compared with the previous week, according to a Ministry of Commerce statement. The wholesale price of pork went up 0.3 percent, while the cost of beef and mutton rose 0.5 percent and 0.2 percent, respectively. The average wholesale price of aquatic products gained 0.6 percent and the cost of rice and peanut oil went up 0.2 percent and 0.1 percent, respectively. The price of vegetables and eggs dropped slightly last week. The average wholesale price of 18 kinds of vegetables dipped 2.3 percent from a week earlier and that of eggs down 0.2 percent. Food accounts for about one third of China's consumer price index (CPI), a main gauge of inflation. The CPI grew 3 percent year on year in November, down from 3.2 percent in October, the National Bureau of Statistics (NBS) said on Monday.