27 May '11, 4am

China pork prices rose further last week -data

BEIJING, May 27 (Reuters) - China's pork prices rose 1.5 percent last week from a week earlier, quickening from a 1.2 percent gain in the earlier week, the commerce ministry said. Food prices, which account for about 30 percent of China's consumer price index, rose 11.5 percent in the year to April, compared with March's 11.7 percent increase. Severe drought in central China and worsening power shortages are pushing up food prices and hurting factories, but analysts say the overall impact on the country's inflation and economic growth is limited, for now. [ID:nL3E7GP1JL] China's headline consumer inflation hovered near 32-month highs at 5.3 percent in the year to April, although economists expect the consumer price index to peak in the coming months. In a statement on its website (www.mofcom.gov.cn), the ministry gave the following breakdown of food prices. (Percent change...

Full article: http://sg.news.yahoo.com/china-pork-prices-rose-further-l...

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