Posted AT 6:34 AM EDT on 28/03/08
China raises wheat, rice prices in bid to stem inflation
BEIJING — China said Friday it will pay farmers more for rice and wheat, trying to raise output and cool surging inflation that threatens to fuel unrest ahead of the Beijing Olympics.
Beijing has frozen retail prices of rice, cooking oil and other goods in an effort to rein in food costs that jumped 23.3 per cent in February over the same month last year.
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