{"id":3071,"date":"2010-09-22T10:18:40","date_gmt":"2010-09-22T10:18:40","guid":{"rendered":"https:\/\/mmm.9dotdigital.ca\/?p=3071"},"modified":"2025-03-27T15:49:07","modified_gmt":"2025-03-27T15:49:07","slug":"chinese-food-prices-still-climbing","status":"publish","type":"post","link":"https:\/\/mmm.9dotdigital.ca\/?p=3071","title":{"rendered":"Chinese food prices still climbing"},"content":{"rendered":"<p>Rising food prices may crimp <a href=\"http:\/\/www.moneymovesmarkets.com\/journal\/2010\/9\/10\/uk-inflation-4-cpi-rate-possible-if-food-surge-continues.html\">UK<\/a> consumer spending later this year but food inflation is a much bigger issue in emerging economies &ndash; the average weight of food in the CPI baskets of 120 non-OECD countries was 37% in 2006, according to a 2008 IMF study, versus 10% in the UK currently. (Food is much more important for consumers in these economies than fuel, with a 7% average weight in 2006.)<\/p>\n<p>Chinese CPI food inflation rose to an annual 7.5% in August and may reach 9% by October, judging from data on edible agricultural product prices &ndash; see chart. (Product prices suggest a further increase of 1% or more in the CPI food index, which was little changed between August and October last year.) With food accounting for one-third of the CPI basket, this could push headline CPI inflation up from 3.5% currently to about 4%.<\/p>\n<p><span class=\"full-image-block ssNonEditable\"><span><img decoding=\"async\" style=\"width: 680px;\" src=\"\/storage\/chart2_22-09-2010.gif?__SQUARESPACE_CACHEVERSION=1285151158645\" alt=\"\" \/><\/span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Rising food prices may crimp UK consumer spending later this year but food inflation is a much bigger issue in emerging economies &ndash; the average weight of food in the CPI baskets of 120 non-OECD countries was 37% in 2006, according to a 2008 IMF study, versus 10% in the UK currently. (Food is much [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-3071","post","type-post","status-publish","format-standard","hentry","category-money-moves-markets"],"_links":{"self":[{"href":"https:\/\/mmm.9dotdigital.ca\/index.php?rest_route=\/wp\/v2\/posts\/3071","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mmm.9dotdigital.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mmm.9dotdigital.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mmm.9dotdigital.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mmm.9dotdigital.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3071"}],"version-history":[{"count":1,"href":"https:\/\/mmm.9dotdigital.ca\/index.php?rest_route=\/wp\/v2\/posts\/3071\/revisions"}],"predecessor-version":[{"id":5380,"href":"https:\/\/mmm.9dotdigital.ca\/index.php?rest_route=\/wp\/v2\/posts\/3071\/revisions\/5380"}],"wp:attachment":[{"href":"https:\/\/mmm.9dotdigital.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3071"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mmm.9dotdigital.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3071"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mmm.9dotdigital.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3071"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}