Consumption Expenditure News
- China sees first meat price drop in two months, other products
Date: 16-Aug-2007 Sources: (People's Daily)
The average meat price in China fell for the first time in two months last week, falling 1.2 percent from the previous week thanks to the government's and producers' efforts to increase supply, the Ministry of Commerce announced on Wednesday.
The price of pork, which has soared relentlessly for months as a result of short supply and mounting production costs, was down 1.5 percent from the previous week.
In some areas, the wholesale price of live pigs went down, the ministry said.
However, the price of grain, edible oil, chickens, eggs, aquatic products and vegetables all rose.
Of the 40 major edible farm products monitored by the ministry, the price of 26 items, or 65 percent, rose, while 11 items, or 27.5 percent, recorded price drops.
In July, China's consumer price index, or CPI, rose by a 33-month-high of 5.6 percent on the back of food price hikes. The key inflation indicator was well above the government-set target of three percent.
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