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Global Grain Price Fluctuations Have Limited Impact On China's CPI-Daily

CHINA PRESS
MNI (Singapore)

The drastic fluctuations in international grain prices are controllable for China’s price levels, supported by its steady grain production and a bumper wheat harvest this summer, the Securities Daily reported citing analysts. Though global grain prices have recently declined, food prices still play a significant role in driving up CPI in the U.S. and euro area, the newspaper said citing analysts. China is highly self-sufficient in the three major grains and grain prices have a relatively low weight in the basket of CPI, the newspaper said citing analysts.

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