Source: CCTV.com

01-22-2008 10:39

Special Report:   2008 Spring Festival

China will release supplies of pork and cooking oil to ward off price spikes during the Lunar New Year holiday, according to Commerce Minister Chen Deming. This should result in fairly stable prices despite inflationary pressure.

China will release supplies of pork and cooking oil to ward off price spikes during the Lunar New Year holiday.

China is battling a surge of inflation driven by food price rises that have rattled consumers used to cheap essentials. Consumer prices rose 6.9 percent in the 12 months to November, the fastest rate in 11 years. The prices of cooking oil and pork both soared over 40 percent from a year earlier.

Chen also said officials would keep a close eye on consumer markets to anticipate demand and prevent shortfalls.

 

Editor:Xiong Qu