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Dealing with increase in food prices

By You Nuo | China Daily | Updated: 2008-03-24 07:13

Dealing with increase in food prices

For some time now the world has been experiencing a rise in food prices. It is important for China not just because it has a long history as an agricultural nation, but also because of terrible memories of past famines.

Food items make up one-third of China's consumer price index, a key measure of inflation, and can trigger quick readjustments by officials in charge of the economy's short-term stability.

All housewives wish, after seeing meat and cooking oil double or almost triple in prices, that the government adopts tough measures to ease their concerns. However, from the National People's Congress (NPC), which closed its annual session in Beijing last week, people did not hear a pledge for no more rise in prices. The premier did address concerns about inflation, and say that things would be done to make price rises more modest, or less painful. But he said nothing about price capping or fixing.

Dealing with increase in food prices

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