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.”
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.
â€¢ Chinese ministry of commerce
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