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News 481 views last update:Oct 19, 2007

Pork price rise in China again

In a statement by the Chinese ministry of commerce, pork prices rose once again last week after having fallen for a period of nine consecutive weeks.

"In the last fortnight, wholesale pork prices have increased on average by 0.2% to 17.79 yuan (US%2.37) per kg on October 12 and by some 5.9% in a number of cities."

CPI
Soaring pig prices, resulting from increasing feed costs and blue ear pig disease, have increased the consumer price index (CPI) by 6.5% in August. According to China's Central Bank governor, Zhou Xiaochuan, the CPI is the key criteria for interest rate increases.

The battle against inflation continues.

Related website:
• Chinese ministry of commerce

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