China sees consumer price inflation upsurge over rising food costsApril 12, 2016 - 12:26 AMT PanARMENIAN.Net - Food prices in China surged 7.6 percent in March driving consumer prices up 2.3 percent from a year earlier, RT said citing a report from China’s National Bureau of Statistics (NBS). It’s the second month in a row consumer prices have risen by so much. Non-food prices were up one percent last month. The producer price index (PPI) which measures wholesale inflation fell 4.3 percent in March, narrowing from a 4.9 percent drop in February and 5.3 percent drop in January. Producer prices climbed 0.5 percent last month after more than two years of deflation. NBS statistician Yu Qiumei attributed the inflation to high vegetable and pork prices. Pork prices rose sharply by 28.4 percent year on year, while vegetable prices skyrocketed by 35.8 percent. Food prices remained relatively high after the Lunar New Year holiday. In a quarterly survey by the Chinese central bank, 52.7 percent of consumers said prices were “too high and unacceptable.” "While the rising property and food prices could send some shocks to the consumer price index inflation in the coming month, we believe that it is too early to worry about the inflation problem in China," Zhou Hao, an economist at Commerzbank AG in Singapore, told Bloomberg. "From Chinese authorities’ perspective, it is far more important to get rid of deflation." Beijing has set a goal this year of keeping consumer inflation below three percent, the same as last year. Top stories Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". The earthquake caused a temporary blackout, damaged many buildings and closed a number of rural roads. Partner news | Titus, Bilirakis lead legislation to sanction Azerbaijani war criminals Representatives Dina Titus (D-NV) and Gus Bilirakis (R-FL) have introduced the bipartisan legislation. Armenia: Defense Ministry warns against involving army in political processes The Ministry’s statement came after a video surfaced online, showing soldiers joining the protests in Tavush. Scholz hopes Armenia-Azerbaijan peace treaty will be signed this year German Chancellor Olaf Scholz hopes that a peace treaty between Armenia and Azerbaijan will be signed this year. Ucom equips four bus stops in Ijevan with free Wi-Fi Ucom now provides free Wi-Fi coverage in smart bus stops in four communities of Ijevan. |