The average prices of major food products in 50 Chinese cities rose in late August, data from the National Bureau of Statistics (NBS) showed Tuesday, fueling concerns of a rise in inflation.Â
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A total of 17 kinds of food prices rose during the period between August 21 and 30. For instance, pork prices rose by 1.2-1.3 percent from the previous 10 days, and egg prices rose by 5.5 percent, the NBS said in a statement on its website.Â
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Analysts expressed concern about the rises, given that food prices account for a weighting of about one-third in China's consumer price index (CPI) calculations.
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"The country's economy is recovering slowly, but food prices are rising faster than expected, fueling inflationary pressure," Liu Chunge, an analyst at Shandong-based commodity consultancy Sublime China Information, told the Global Times.Â
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Liu expects the CPI will rebound to above 2 percent in August, from a 30-month low of 1.8 percent in July, limiting the central bank's room for maneuver with regard to a potential cut in the interest rate or banks' reserve requirement ratio.Â