China’s November consumer inflation rises on pork, vegetable prices | Malay Mail

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BEIJING, Dec 9 — Consumer inflation in China picked up to its highest level in over a year in November, official data showed Thursday, bolstered by an uptick in pork prices as seasonal demand spiked. The consumer price index (CPI), a key gauge of retail inflation, came in at 2.3 per cent on-year...

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BEIJING, Dec 9 — Consumer inflation in China picked up to its highest level in over a year in November, official data showed Thursday, bolstered by an uptick in pork prices as seasonal demand spiked.

Rising food prices were a key factor, with the cost of pork — a staple meat in the world’s second-biggest economy — hit by “growth in seasonal consumption demand and a short-term tight supply of fat pigs”, NBS senior statistician Dong Lijuan said.Disruptions to vegetable harvests due to bad weather added to food inflation, said Capital Economics’ senior China economist Julian Evans-Pritchard.

China’s CPI has been driven up in recent years by pork prices after African swine fever ravaged stocks, and officials worked to bring costs down. This came as authorities stepped up policies to ensure that supplies and prices stabilised, Dong said, noting the “rapid rise” of coal and metals costs had been curbed for now.

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