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Experts: Cooling inflation leaves room for policy adjustments (2)

By Lu Hui (Xinhua)

14:03, November 14, 2011

Farm produce prices in China continued to fall for the week ending on Nov. 6, according to a report released by the Ministry of Commerce on Tuesday.

Wholesale prices of 18 staple vegetables dropped by an average of 2.2 percent from the previous week. It was the fourth straight week that vegetable prices fell, marking an aggregate 11.3 percent drop over the past four weeks, the report said.

Meanwhile, eight types of seafood products saw an average price decline of 0.4 percent week-on-week, and the prices of pork and eggs fell 1.8 percent and 0.5 percent, respectively.

Pork prices have dropped 6.4 percent since mid-September, the report said.

Analysts said that the lower inflation rate showed that government efforts to curb prices had begun to take effect. "The government's priority to stabilize prices and contain inflation has already achieved fruitful results," said Yao Jingyuan, the former chief economist with the National Bureau of Statistics.

"During the remaining two months of this year, the consumer prices will go down further," Yao added. "The CPI for November and December will be below 5%, or maybe drop to about 4%. Because the declining trend of food prices is continuing with the further price fall of pork, eggs and vegetables."

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