July 12, 2012
China's beef, pork prices hike in week ending July 8
In the week up to Sunday (July 8), the food prices in China, including beef and pork, increased, the Ministry of Commerce said Tuesday.
China's food-price movements indicate inflationary pressures as food accounts for about a third of its consumer price index.
Wholesale pork prices, a major indicator for inflation, rose 0.2% in a third consecutive week of gains. Still, pork prices are 22.8% lower compared with a year ago, it said.
Beef prices rose 0.5% while mutton and chicken prices were mostly flat, the ministry said.
