China's farm produce prices edge up

Farm produce prices in 36 large- and medium-sized cities trended slightly upward last week, the Ministry of Commerce (MOC) said Tuesday. Last week, wholesale prices for eight kinds of aquatic products went up 0.6 percent from a week earlier, while meat prices saw slight gains, the ministry said in an online statement. The retail price of cooking oil edged up slightly, with colza oil up 0.1 percent. The retail price of eggs continued to drop, down 0.7 percent from the previous week, while prices for 18 kinds of vegetables retreated further, with that of cabbages and tomatoes down 8.1 percent and 8 percent, respectively. Food prices account for around 30 percent of prices used to calculate the consumer price index (CPI), a key gauge of inflation. The CPI rose 1.9 percent year on year in September, easing from 2 percent in August, official data showed.