The top economic planner says it does not think another adjustment in retail fuel prices is needed right now, as consumer prices are likely to remain stable in the near term. The National Development and Reform Commission says there are currently plentiful supplies and stockpiles of food, pork and edible oil.

And that it's unlikely that their prices will rise next year. But the NDRC is stressing that even steep increases in food prices will not lead to pressure on price. The Commission says record growth in money supply this year should not spark inflationary pressure, because price levels are being reined in by industrial over-capacity and still-weak demand. The NDRC added that the government is working on further improving the pricing of natural gas.