Farm produce prices continue to rise

BEIJING - Farm produce prices in China rose for the 11th straight week during the seven days ending January 13, as cold weather continued to hurt supplies, according to the Ministry of Commerce.

The wholesale price of 18 types of vegetables monitored in 36 major cities went up 1.2 percent from the previous week, with the wholesale prices of white gourd, bitter gourd and peppers up 5.8 percent, 5.6 percent and 5.3 percent, respectively, the ministry said Monday in an online statement.

The wholesale price of pork, a staple meat, gained 2.1 percent from the previous week, but the price was down 5.1 percent compared with the same period last year, the ministry said.

The wholesale price of eight kinds of aquatic products monitored by the ministry edged up 0.2 percent from a week earlier.

The recent rise in food prices, mainly caused by this year's unusually cold winter, has contributed to a pick-up in China's inflation, as food prices account for about one-third of the weighting in the calculation of the consumer price index (CPI), a key gauge of inflation.

The latest data from the National Bureau of Statistics show that China's December CPI grew 2.5 percent year on year, the fastest pace since June.

Analysts expect prices to continue on an upward trend for a while, as the cold weather will persist and the upcoming Spring Festival will push up demand.