May 14, 2008

China retail pork prices dip 0.76 percent on-week

China's retail prices of pork dropped by 0.76 percent in the week ended on May 11, to an average of RMB14.34 (US$US2.05) per 500 grammes, the National Development and Reform Commission (NDRC) reported.

Chicken prices also dipped while beef and mutton increased.

In April, China's consumer inflation rose 8.5 percent from the 8.3 percent in March, in which food cost that makes up one-third of the consumer price index jumped 22.1 percent.

Pork prices in April surged 68.3 percent, the National Bureau of Statistics said.

The NDRC, China's economic planning agency, surveys retail prices in 36 major cities.