China Says Collusion By Noodle Makers Partly To Blame For Inflation Surge – Joe McDonald

From AP via SignOnSanDiego.com:

The government slammed Chinese instant noodle makers Friday as being partly to blame for a surge in inflation, saying they illegally colluded to boost prices by up to 40 percent in a scheme that has prompted public outcry.

The report came amid a nationwide probe into whether price-fixing or hoarding by producers is to blame for a 15.4 percent jump in food prices in July over the year-earlier period. The government accused the companies of damaging social stability. [Full Text]

See also Illegal price hikes on instant noodles from Danwei.org.

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