BEIJING — Prices in China are rising quickly for food and other commodities, increasing pressure for policymakers tasked with keeping growth stable.

According to the Ministry of Commerce data, China’s edible agricultural products showed a rise in food prices every week from October.

In the week ending Oct. 31, a basket with 30 vegetables cost 5.99 Yuan ($2.06 per pound), up 6.6% over the previous week. The price per kilogram was 4.39 Yuan ($1.51 per pound) in the week ending Sept. 26.

Bruce Pang of China Renaissance’s macro and strategy research said that China cannot ease its monetary policy due to rising inflationary pressures, and other countries’ tightening monetary policies.

China has limited ability to relax monetary policies, so China will need more fiscal support and industrial policy to avoid being over-indebted. stagflation, Pang said. Pang said that the fourth quarter’s economic growth could still be between 4% and 5%.

According to data from China Communist Party’s newspaper, it had shown that the price of food increased by 3.7% in the week ending Oct. 31, with prices for pork rising by 10.6%, and chicken eggs increasing by 6.4%. People’s Daily.After a week of 4.3% increases, overall food prices rose.

CNBC did not reach out to the Commerce Ministry for comments. November 10th will bring the official inflation figures for October.

Consumer price index measures consumer costs and likely doubled in October due to an increase in food inflation. Vegetable prices rose on lower supplies due to severe weather. subdued pork pricesRobin Xing (Morgan Stanley economist) and his colleagues said this in a report that was distributed on Thursday.

But, they still expect a 1.5% annual increase in consumer prices indexes for October. Xing observed “subdued demand”, especially when authorities announced tighter travel restrictions to control a spike in coronavirus cases in the last several days

September’s modest gains in the consumer price index of 0.7% compared with a year ago were offset by a 5.2% decrease in food costs.

In September the producer price index (a measure of factory production costs) rose 10.7% from one year ago. The rising cost of raw materials has impacted manufacturers’ profit margins.

Pang indicated that October’s producer price index growth was likely to surpass 11%-12% year-on–year. This is based on Pang’s calculation using data from the Weekend Economic Report. official Purchasing Managers’ Index for October.