Wuliangye jacks up prices by 30%
Updated: 2011-08-31 15:54
(Agencies)
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Chinese liquor maker Wuliangye will raise prices for its alcohol by 20-30 percent from Sept 10, the firm said, the latest company to lift retail prices amid stubborn inflation pressures, Reuters reported.
The Xinhua news agency cited Wuliangye officials as saying that the price increase reflects strong demand and rising costs for raw materials, labor and transport.
Wuliangye is not alone in raising prices. Other firms that have recently raised prices or announced plans to do so include China's biggest steel maker, Baoshan Iron & Steel, and the country's top dairy product maker, China Mengniu Dairy Co as well as foreign fast food chain McDonald's and consumer product giant Unilever Plc.