Source: Richard Smith, MEATINGPLACE, 8/5/11
 

China's pork prices inched lower for the second week after months of surging prices that have been leading food inflation, Xinhua News Agency reported.

Pork prices fell by 0.5 percent during the week ended July 31. The decline was 0.3 percentage points greater than that of the previous week, which marked the first such drop in three months.

High pork prices have become a significant concern in China. The consumer price index, a main gauge of inflation, shot up to a three-year high of 6.4 percent in June, driven by surging food prices.

Data from the National Bureau of Statistics showed that pork prices in June surged by 57.1 percent year-on-year.

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