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Chinese Meat Prices Rising Steeply
31 July 2008CHINA - Meat and poultry prices have risen by more than 27% in the last year.
The cost of meat and poultry in June was 27.3% higher than the same month in 2007. Edible oils, grains and vegetables were up by 43%, 8.7% and 8.3%, respectively.
For the first half of the year and after adjusting for inflation, average disposable income in urban areas has risen by 6.3% to 8,065 yuan (CNY) and average personal expenditure by 5.7% to CNY5,490.
The official report continues that the growing and economically powerful middle classes are beginning to be concerned about the trend towards rising food prices.
ThePigSite News Desk
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