Food prices have been the main driver of inflation in China, but one little-followed sector of agricultural production has shown above-average price increases. Analysts usually track food inflation using the National Bureau of Statistics CPI-Food Index, which includes grain, edible oil, meat and poultry, eggs, aquatic products, fresh vegetables, fresh fruit and flavourings. This ignores traditional Chinese medicines (TCM), where NBS data show that prices have been rising at double-digit...
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