China increases surveillance of agricultural product prices

20:29, December 24, 2010      

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China's top economic planner Friday ordered price surveillance authorities to keep prices of agricultural products stable over the coming New Year and Spring Festival holidays.

The National Development and Reform Commission said in a notice that relevant departments must work to maintain a free flow of fresh agricultural products.

They should also lower costs of circulation and give subsidies to needy families.

The notice also required the departments to crack down on hoarding of agricultural commodities.

It also ordered them to keep an eye on prices for public services like accommodation and road tolls.

Despite government efforts to rein in prices, inflation in China is accelerating, causing Chinese consumers and enterprises to worry.

China's consumer price index, the main measure of inflation, jumped to a 28-month high at 5.1 percent year on year in November, exceeding the government's full-year target of 3 percent.

Source: Xinhua
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