China's vegetable prices increased 30.6% in November as food costs soar
December 10, 2021: -On Thursday, Fresh vegetable prices in China surged by 30.6% in November from a year ago, the National Bureau of Statistics said.
The gains followed a 15.9% year-on-year surge in October, as floods and other extreme if in the latest months have hit farms. Although the bureau noted the supply of vegetables went high in November, prices were still up every month by 6.8%.
Investors watch for signs of whether the sudden rise in prices and stagnant economic activity might drag down growth.
Other food prices increase in China in the previous month, for the overall growth of 1.6% year on year, between a global surge. The Food and Agriculture Organization of the United Nations said its international food price index increased by 27.3% in November to its highest since June 2011.
In China, the statistics bureau said the price of eggs increased by 20.1% in November before a year, while that of freshwater fish surged 18%.
The price of pork, a staple in Chinese diets, remained well below the highs of last year, with a decline of 32.7% in November. But pork prices increase 12.2% from October.
The consumer price index, which is highly sensitive to pork prices — overall increase lesser expected in November, up 2.3% versus the 2.5% predicted by a Reuters poll.
The producer price index increased by 12.9%, topping the expectations of a 12.4% increase. But level marked November a slowdown from October when the index went up to 13.5%.
This year, the producer price index has climbed by record levels as commodity prices have soared.
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