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Chinese Pork Prices Down in February

10 March 2014

CHINA - China's consumer price index (CPI), a main gauge of inflation, increased two per cent year on year in February, down from 2.5 per cent in January, the National Bureau of Statistics (NBS) unveiled on Sunday (9 March).

Food prices, which account for nearly one-third of the weighting in the calculation of China's CPI, rose 2.7 per cent year on year and contributed to 0.9-per centage-point increase in February's CPI growth.

In breakdown, prices of fruit, aquatic products, vegetables and grain went up year on year in February, with fruit price saw the largest increase of 19.7 per cent.

Bucking the trend, prices of poultry and meat dropped from the same period of last year with the price of pork, staple meat in China, down 8.7 per cent.

On a month-to-month basis, CPI edged up 0.5 per cent last month from January, while food prices rose 1.7 per cent and prices of non-food remained flat.

China's CPI has slowed its growth pace for four straight months, and the growth rate in February marked the lowest level since February, 2013, the NBS data showed.

ThePigSite News Desk

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