China Green Food Consumer Price Index edges down month-on-month
According to the latest monitoring data from Xinhua (Daqing) International Petroleum Information Center, in September 2014 the China Green Food Consumer Price Index stood at 103.12, down 0.18% month-on-month. Overall, affected by factors such as the relatively ample supply of agricultural products during the harvest season, the decline in vegetable prices was the main reason driving the China Green Food Consumer Price Index slightly lower.
By main category, in this reporting period the vegetable consumer price index fell 8.77% month-on-month, the grain and oil consumer price index rose 0.47% month-on-month, the meat, poultry and egg consumer price index fell 0.17% month-on-month, the aquatic products consumer price index rose 2.88% month-on-month, the fruit consumer price index fell 2.36% month-on-month, and the mushroom consumer price index rose 1.01% month-on-month.
Jiang Bing, an analyst at Xinhua (Daqing) International Petroleum Information Center, believes that based on the data, the green food consumer price index was stable with a slight decline month-on-month, mainly attributed to sufficient supply of vegetable foods and lower consumer prices, while vegetable prices are an important component of the China Green Food Consumer Price Index system. In the future, as temperatures drop, local vegetables in northern regions will largely leave the market, increasing demand for vegetables from other regions; rising costs will have a certain boosting effect on the green food consumer price index moving higher in the future.
The China Green Food Consumer Price Index is compiled and developed by Xinhua (Daqing) International Petroleum Information Center. It divides green food into 6 major categories: grain and oil, vegetables, meat, poultry and eggs, aquatic products, fruits, and mushrooms. By collecting price data from Xinhua's own database, authoritative statistical departments at all levels, the China Green Food Association and other institutions, and using statistical models to weight them, it forms a composite index. It aims to reflect the direction, trend and extent of changes in green food consumer prices, describe the overall picture and operating conditions of changes in green food consumption, and provide a reference evaluation standard for procurement, production, sales and investment by enterprises in the industry. This index is released once a week.