China food prices rise
Friday, 3 August 2007
BEIJING, August 2 (CEIS): Prices of farm produce in China continued to rise in the week from July 23 to 29, the Ministry of Commerce (MOC) announced yesterday.
Compared with the previous week, meat prices were up 1.8 per cent, with pork up two per cent and beef up 1.4 per cent.
The price of slaughtered chickens rose 1.4 per cent and eggs 2.4 per cent as the egg yields declined in the hot summer and floods in south China added pressure to supplies. Against this backdrop, analysts predicted that chicken and egg prices would continue rising this week.
Vegetable prices saw a rise of 3.3 per cent as the floods tightened supplies and made transport, delivery and storage difficult.
Analysts said the food price rises contributed significantly to China's consumer price index (CPI), a key inflation indicator, which rose 3.2 per cent in the first half and 4.4 per cent in June, well above the government-set alarm level of three per cent.
Compared with the previous week, meat prices were up 1.8 per cent, with pork up two per cent and beef up 1.4 per cent.
The price of slaughtered chickens rose 1.4 per cent and eggs 2.4 per cent as the egg yields declined in the hot summer and floods in south China added pressure to supplies. Against this backdrop, analysts predicted that chicken and egg prices would continue rising this week.
Vegetable prices saw a rise of 3.3 per cent as the floods tightened supplies and made transport, delivery and storage difficult.
Analysts said the food price rises contributed significantly to China's consumer price index (CPI), a key inflation indicator, which rose 3.2 per cent in the first half and 4.4 per cent in June, well above the government-set alarm level of three per cent.