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Official: Foodstuff prices stable during Chinese New Year
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10:01, February 11, 2008

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Foodstuff prices saw a mild decline during Spring Festival, the Chinese Lunar New Year, the Ministry of Commerce said here on Sunday.

The average wholesale price of vegetables on Saturday declined to 3.79 yuan per kilogram, down 1.3 percent from the previous day and 2.6 percent from Feb. 6, the new year eve, according to the statistics of the ministry.

Meanwhile, pork price fell by 0.4 percent from the previous day and 1.0 percent from Feb. 7.

In mid-Jan., the Chinese government vowed to restrict price rises on key household commodities, including on grain, edible oils, meat, milk, eggs and liquefied petroleum gas.

It was the latest in a series of moves since July last year to cool surging inflation, which has stayed well above the official critical mark of four percent and shot to an 11-year high of 6.9 percent in November. (One U.S. dollar equals 7.18 yuan)

Source: Xinhua

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