Chinanews, Beijing, Aug 8 – Recently, the prices of meat, eggs and other foods have risen largely in many parts of China. The price hike has brought some negative impacts on the life of Chinese people, especially people in straitened circumstances. However, according to Yao Jingyuan, chief economist at the National Statistics Bureau (NSB), as China has taken a series of measures to deal with the issue, the price hike in food will be controlled effectively. It is expected that CPI growth might be controlled below 4% for the whole year, the Beijing News reported.

 

According to the information from NSB, during the first half of this year, the prices of foods rose by 7.6% compared with the same period last year. Among them, foods grain rose by 6.4% and eggs rose by 27.9%, the largest range among all foods. In addition, the prices of meat and poultry climbed by 20.7%. Based on information furnished by related authorities, the wholesale price of pork rose by 70% compared with the corresponding period of last year.

 

What are the major causes for the recent price hike? According to NSB spokesperson Li Xiaochao, it was caused by the price rise of grains in domestic market, which was the result of many factors working together. The main reason was the price rise of grains in international market and the short supply of grains. Since the second half of last year, grain price in international market had kept climbing. The change in international market had directly affected the grain price in domestic market.

 

Information from the Ministry of Commerce shows that apart from the short supply of pork, the supply of other foods remain stable. Due to the rise of production costs, seasonal fluctuations and natural disasters, it might be quite normal for food price to fluctuate at certain time of the year. It is expected that during the latter half of this year, food price might climb at a much more moderate rate than the first half of the year.