Food price hike drives inflation in China

For fresh fruit and vegetable marketing and distribution in Asia
Fruitnet.com Staff

BY FRUITNET.COM STAFF

Food price hike drives inflation in China

Global commodity price increases have driven price rises

Food price hike drives inflation in China

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A 21 per cent jump in China's food prices during the first quarter of 2008 has helped to push the Consumer Price Index up by 8 per cent for this period. A recent USDA report notes that China's food price hike is mainly due to inflationary pressures caused by global commodity price rises and the mounting cost of raw materials, farm labour and fuel and transportation.

But other key factors include increased demand for food with rising incomes and shortfalls in certain food categories because of animal diseases and the winter snowstorms that hit citrus and vegetable crops hard.

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