China lifts control on food price

The National Development and Reform Commission (NDRC) has decided to let the food producers and traders to resume their rights to independently set the price of their goods after an 11-month interim price control measures on grain and some food products.

The price control measures were introduced in January as part of the government's efforts to fight inflation. However, such inflation concerns have been largely eased as China's consumer price index (CPI) has dropped from 8.7% in February to 4% in October.