Non food items increased just 1

16 Mar Non food items increased just 1

China readies price controls to tackle food inflation

BEIJING, Nov 16 Canada Goose Coats On Sale (Reuters) China will unveil food price controls and canada goose uk outlet crack Canada Goose Parka down on speculation in agricultural commodities to contain inflationary pressure that its central bank governor highlighted as canada goose store a risk on Tuesday.

With consumer prices rising at their fastest pace in more than two years, the National Development and Reform Commission, the country canadian goose jacket top planning agency, is preparing a punch of actions to rein in food costs, official media reported.

Such direct intervention would Canada Goose Jackets mark an escalation of the government efforts to tame inflation and underline its worries over the rapid run up in food prices.

Possible uk canada goose outlet steps include price controls, subsidies uk canada goose for shoppers, a crackdown on hoarding and price gouging as well buy canada goose jacket as a system whereby mayors are made responsible for a basket of food items, the China Securities Journal reported.

Those found speculating on corn or cotton will also be punished severely, it added.

increases, particularly overly rapid food price increases, are the main economic problem faced by the country at cheap canada goose uk present, the report cited an unidentified source as saying.

policies Canada Goose Online that are being considered aim to contain the momentum and will be delivered in combination as a one two punch, it added.

Consumer price inflation sped to a 25 month high in October, with prices rising canada goose coats 4.4 percent from a year earlier. Food, which makes up about a third of China consumer price index, led the https://www.canadagooseoutleta.com way, climbing 10.1 percent. Non food items increased just 1.6 percent.

However, canada goose factory sale unlike past bouts of food inflation in China, there have been no major droughts or diseases to drive up prices this year. Instead, fast money growth appears to be the buy canada goose jacket cheap primary culprit.

At a regular briefing on Tuesday, the commerce ministry pointed its finger at factors beyond China borders.

inflationary pressure has contributed canada goose to canada goose black friday sale the big rise in China food prices. Global prices cheap Canada Goose of grains, cotton and edible oil have been rising noticeably, spokesman Yao Jian said.

China used food price controls to Canada Goose Outlet limited effect when inflation flared up at the end of 2007. With market forces dominant in the agricultural sector, the government struggles to steer the cost of food, though the announcement of controls can help to anchor inflationary expectations.

WATCHING PRICES China economy is Canada Goose online growing in line with the government road map, but price rises are a concern, central bank canada goose coats on sale chief Zhou Xiaochuan said on Tuesday.

pressure on prices needs to be watched. We will continue to maintain appropriate growth of money and credit, he said.

Zhou said that a two speed global recovery posed complex challenges.

in developed economies is slow. Monetary conditions are loose, canada goose clearance Zhou told a forum. of emerging market economies is accelerating but they face capital inflows.

Chinese Canada Goose sale officials have canada goose clearance sale warned that loose monetary policy in developed economies and, in particular, a new round Cheap Canada Goose coats of quantitative easing in the United canada goose uk black friday States could send waves of canada goose uk shop cash towards its borders, compounding its inflationary problem.

Although China has a comprehensive system of capital controls, hot money can still work its way into the country through normal trade and investment channels.

Yao, the commerce ministry spokesman, warned that Beijing would ferret out any speculative inflows disguised as foreign direct investment.

Judging by the numbers, though, there is little evidence so far of that kind of illicit investment.

China drew $7.7 billion of foreign direct investment in October, about $500 million less than its monthly average in the first three quarters. [ID:nBJA002342].