Pork prices fall
Source: Bloomberg News |
August 5, 2011, Friday
|
Print Edition
Print Edition
AVERAGE pork prices in 50 Chinese cities fell at the end of July, aiding the government's efforts to rein in the fastest inflation in three years.
The average price of marbled pork from July 21 to last Saturday fell 0.6 percent from the previous 10-day period to 30.09 yuan (US$4.67) per kilogram, the National Bureau of Statistics said yesterday. Prices for hind-leg pork eased 0.4 percent to 31.12 yuan a kilogram.
A decline in the price of pork, which JPMorgan Chase & Co economists said possibly accounted for a fifth of June's 6.4 percent increase in consumer prices, may signal that inflation moderated in July. China's central bank has raised interest rates three times this year to rein in consumer prices.
The Ministry of Commerce also released data that showed the wholesale price of pork fell last month.
The average price of marbled pork from July 21 to last Saturday fell 0.6 percent from the previous 10-day period to 30.09 yuan (US$4.67) per kilogram, the National Bureau of Statistics said yesterday. Prices for hind-leg pork eased 0.4 percent to 31.12 yuan a kilogram.
A decline in the price of pork, which JPMorgan Chase & Co economists said possibly accounted for a fifth of June's 6.4 percent increase in consumer prices, may signal that inflation moderated in July. China's central bank has raised interest rates three times this year to rein in consumer prices.
The Ministry of Commerce also released data that showed the wholesale price of pork fell last month.
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