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China Food Prices Drop for 3rd Month

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Food prices in China declined by 0.7 percent year-on-year in April 2021, following a 0.7 percent fall in the prior month. This was the third straight month of drop in cost of food, with pork prices falling faster (-21.4 percent vs -18.4 percent in March) after soaring in 2019 due to the African Swine outbreak. Also, cost of fresh vegetables fell 1.3 percent after gaining 0.2 percent in March). On the other hand, there were rises in cost of eggs (6.8 percent vs 3.4 percent), fresh fruit (2.7 percent vs 4 percent), cooking oil (7.5 percent vs 6.9 percent), and dairy products (2.3 percent vs 2.1 percent)

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