Prices in China are rising quickly for food and other commodities, increasing pressure for policymakers tasked with keeping growth stable.
Stagflation is an economic phenomenon in which prices rise but business activity stagnates, leading to high unemployment and reduced consumer spending power.The People's Bank of China hasFood inflation data deleted
The latest weekly report from China's Commerce Ministry confirmed a trend of rising food prices. But the data released Tuesday afternoon was deleted from the ministry's site as of Wednesday morning. It had shown that the week ended Oct. 31 saw a food price increase of 3.7% from the prior week, with pork prices rising by 10.6% and that of chicken eggs up by 6.4%, according to a report of the data available on the Chinese Communist Party's newspaperThe commerce ministry did not respond to a CNBC request for comment. Official inflation data for October is due out Nov. 10.
However, their prediction of a 1.5% year-on-year consumer price index increase in October remains relatively low. Xing noted "subdued" consumer demand, especially as authorities announceIn September, the consumer price index's muted gains of 0.7% from a year ago were dragged down by a 5.2% decline in food prices.
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