China’s food prices expected to rise

16  January 2013

Data from the Ministry of Commerce showed that the average wholesale prices of 18 monitored vegetables increased 2.9 percent in the week from Dec 24 to Dec 30 compared with the previous week. Wholesale pork prices rose 0.9 percent in the same period.

In addition to the chilly weather’s impact on vegetable transportation, the consumption rush during the Spring Festival will also boost food prices, which might see a new round of inflation, said Fan Jianping, deputy director of economic forecasts at the State Information Center.

China’s CPI is expected to be up 2.5 percent year-on-year in December, compared with November’s 2.0 percent increase year-on-year.