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Cost of food drives up consumer price index(1)
2008年5月13日 9点18分  来源:Shanghai Daily  作者:Wang Yanlin  


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【本文摘要】 CHINA'S consumer prices rose 8.5 percent in April, mainly driven by uncurbed food costs, the National Bureau of Statistics said yesterday.

  

  CHINA'S consumer prices rose 8.5 percent in April, mainly driven by uncurbed food costs, the National Bureau of Statistics said yesterday.

  This compared to 8.3 percent in March and 8.7 percent in February.

  Following the release of consumer prices, the central bank announced a raising of the reserve requirement for another 0.5 percentage point to 16.5 percent on yuan deposits, effective on May 20.

  The consumer price index, the main gauge of inflation, rose 8.1 percent in cities and 9.3 percent in rural areas last month.

  "The CPI figure remains high because of a low base last year and the soaring prices of primary food on the international market to push up domestic food costs," said a statement on the bureau's Website.

  Food prices, which make up around one third of the CPI basket, soared 22.1 percent in April.

  The cost of pork rocketed 68.3 percent from a year earlier while edible oil jumped 46.6 percent and vegetables grew 13.6 percent.

  The non-food sector saw a growth of 1.8 percent last month, compared to 1.6 percent in February. The March figure was not available.

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