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He would not risk sharp price rises because of the fear of social unrest.
A 20% currency devaluation has fuelled sharp price rises, even as tourism, a big hard-currency earner, faces a wartime collapse.
For the past year and a half, Chinese policy makers have been working to rein in booming growth and the sharp price rises that have accompanied it.
These have ranged from instructing banks to extend fewer loans to moves designed to curtail the sharp price rises seen in much of the country's property sector.
Although this is the first year Northern Ireland has dominated the league, the same phenomenon has occurred as sharp price rises have radiated out from London.
Earlier this month the WFP warned that "disruptions in cross-border trade and marketing activities have resulted in sharp price rises, affecting the food security situation of large numbers of people".
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Fighters from Islamic State (IS) were pushing into the country's north and the fund worried about a sharp price rise, of 20% in a year.
Hackney agents say parents, helping their children with a lump sum to get them on the ladder, are partly responsible for the sharp price rise.
Blow Off: A sharp price rise, accompanied by extraordinary volume; usually the culmination of an extended advance, leading to a sharp reaction.
The sharpest price rises have come in the heartland of the new economy.
Although processed food has seen the sharpest price rise – 36% – since 2007, the next steepest rise, at 34%, has been in fruit.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com