September 26, 2019 / 12:11 PM / 5 months ago

China to curb food price rises, keep factory prices stable

FILE PHOTO: People shop for vegetables at a market in Kunming, Yunnan province, China May 9, 2019. REUTERS/Wong Campion

BEIJING (Reuters) - China will take steps to curb rapid rises in food prices while keeping producer prices basically stable, state television quoted the cabinet as saying on Thursday.

The government will ensure the overall price level to remain in a reasonable range this year, the State Council was quoted as saying after a regular meeting.

The government will accelerate the recovery of pork production capacity, boost imports and tap state reserves, the cabinet said.

The government will monitor international commodity price changes and issue timely warnings and responses, it said.

In August, China’s consumer prices rose 2.8% from a year earlier, driven by soaring food prices, while factory-gate prices fell 0.8%, as Beijing steps up to support for the slowing economy amid a trade war with the United States.

Reporting by China Monitoring Desk and Kevin Yao; Editing by Angus MacSwan and Chizu Nomiyama

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