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China: Living costs surge 7% in July

08-18-2010 14:01 BJT

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The Ministry of Commerce says prices of 57 major living necessities in China surged 7 percent in July year on year. The growth rate was 1.2 percentage points higher than June.

The Ministry says high temperatures and heavy rain across the country badly influenced produce and transport, accelerating price surges of vegetables and eggs.

In July, prices of 18 vegetables were up by nearly 50 percent on average year on year, while prices of eggs climbed by nearly 10 percent. Pork prices increased by 4 percent and the cost of rice grew by more than 7 percent.

Yao Jian, Spokesman of Ministry of Commerce said "The Ministry will strengthen market supervision, to make sure supply of all goods is sufficient."

In China's major retail market, prices of living necessities continue the upward trend in August. The Ministry also says prices of agricultural products -- a major index to gauge prices of necessities -- have been on the rise for 8 straight weeks since June 20th. The Ministry intends to make every effort to stabilize prices.

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Editor:Xiong Qu |Source: CNTV.CN

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