Besides covid and electricity crisis, China comes with new disasters

Published 2021년 11월 4일

Tridge summary

China's Ministry of Commerce has reported a weekly rise in food prices throughout October, with vegetables experiencing the highest increase of 6.6% due to crop failures and lockdowns caused by the Covid-19 pandemic. The price of a basket of vegetables has reached 5.99 Yuan, a significant increase from 4.39 yuan the previous week. This price hike is part of a broader trend of food inflation, exacerbated by severe weather and strict lockdowns, leading to concerns about stagflation and a decrease in purchasing power due to the high cost of vegetables compared to pork, China's staple meat.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Jakarta, CNBC Indonesia - China's Ministry of Commerce on Thursday (4/11/2021) released the latest data on rising food prices in the country. It was noted that food prices in China rose every week in last October. As reported by CNBC International, one of the most affected food prices is vegetables. Vegetable prices in the week ending October 31 increased by 6.6% compared to the previous week. That week, the price of a basket of vegetables containing 30 fruits was 5.99 Yuan or equivalent to Rp. 13 thousand. In the week ending September 26, the price per kilogram was 4.39 yuan. Analysts said that this increase was triggered by crop failures and lockdowns due to the Covid-19 pandemic. From September to early October, there was heavy rain in most of northern China. Most flooded the largest vegetable-producing province in Shandong. Meanwhile, several areas in the Bamboo Curtain country have also experienced a strict lockdown due to the spread of Covid-19. "This is largely due to a ...

Source: Cnbcindonesia