(Yicai Global) Aug. 16 -- No grounds exist for substantial price gains in China because it has ample manufactured and agricultural goods and services, while consumption is growing at a steady rate, according to the nation's top economic planner.
China attaches great importance to controlling inflation, especially regarding everyday goods important to people's lives, Meng Wei, spokesperson for the National Development and Reform Commission, said at a press conference today.
Despite a shortage of pork due to the African swine fever epidemic, substitute meats such as poultry have increased and there should not be a shortfall in supply, Meng said.
The government has introduced a series of policies to keep prices stable, including subsidies, loans and land release measures for pig rearing, ensuring supplies of frozen pork reach the market and increasing supervision to prevent price speculation.
Last month's consumer price and producer price indexes only rose slightly from the same period last year, he added.
The NDRC and other government departments will continue to closely monitor inflation and take appropriate measures to ensure that prices of daily necessities remain within a reasonable range, Meng added.