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China's March Food Prices Drop; Inflation Likely Low

05 April 2017

CHINA - The average price of food in 50 Chinese cities continued to drop between 21 March and 30 March, official data showed Wednesday.

Prices of pork, beef and mutton declined from last sampled period of 11 March to 20 March, according to data released by the National Bureau of Statistics (NBS).

The 10-day snapshot could reflect the trend in consumer price index (CPI), a main gauge of inflation, as food prices account for nearly one-third of the prices used in calculating the index.

Weakening food prices are expected to drag down the March CPI, which is expected to grow by about 0.8 per cent year on year, according to an earlier report by the Bank of Communications.

The official CPI in March is due to be released by the NBS on 12 April.

TheCattleSite News Desk

Top image via Shutterstock



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