BEIJING: Consumer prices in China accelerated at their fastest pace for almost eight years in November as the African swine fever epidemic caused pork prices to more than double, data showed Tuesday.
The consumer price index – a key gauge of retail inflation – came in at 4.5% for November, the National Bureau of Statistics said, up from 3.8% in October and the highest rate since January 2012.The widespread outbreak of swine fever since August 2018 has disrupted the pork supply in China, sending the prices of the staple meat up 110.2% last month November.
With China’s pig herd down by about 40%, authorities last week launched a plan to restore pork production to pre-swine fever levels by 2021. The crisis has also sent prices of beef, lamb and eggs up as consumers switch to other sources of protein.The producer price index – an important barometer of the industrial sector that measures the cost of goods at the factory gate – showed prices fell 1.4% on-year in November.
The figure was slightly higher than the anticipated 1.5% decline in a Bloomberg News poll but nevertheless marked five consecutive months of decline, suggesting continued weakness in the world’s second-largest economy.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Consumer price inflation up 1.5-2% next year | The Malaysian InsightWorld Bank says the higher projection reflects effects of consumption tax change in 2018.
Source: msianinsight - 🏆 8. / 63 Read more »
World Bank: Malaysia’s consumer price inflation to rise to 1.5-2.0pc in 2020 | Malay MailKUALA LUMPUR, Dec 9 — Malaysia’s headline inflation is expected to increase modestly in 2020, with consumer price inflation to average higher in the range of 1.5-2.0 per cent next year as compared with 0.7 per cent projected for 2019, said the World Bank Group. In its 21st edition of the...
Source: malaymail - 🏆 1. / 86 Read more »
40 Chinese nationals arrested in raid at double-storey bungalowIPOH: A total of 40 Chinese nationals, including two women, were arrested in a raid by the Perak Immigration Department at a double-storey bungalow here Monday (Dec 9). part of the 95% 'missing'? imigresenmy
Source: staronline - 🏆 4. / 75 Read more »
Goldman says case for diversifying into gold ‘as strong as ever’Precious metal climbed to 6-year high in September amid fear-driven demand. FMTNews Goldman
Source: fmtoday - 🏆 5. / 72 Read more »
4.8-magnitude quake strikes Italy; train network disruptedROME: An earthquake hit north of Florence on Monday morning and led to trains across the country being cancelled or severely delayed, including those on the national high speed line. Innalillah. May Allah ease & protect them all. Amin ya rabbal alamin
Source: NST_Online - 🏆 17. / 53 Read more »
Govt to revisit cabotage policy in East Malaysia, says Loke | The Malaysian InsightPolicy was loosened by BN administration two years ago, with most industry players blaming it for higher prices of goods in East Malaysia.
Source: msianinsight - 🏆 8. / 63 Read more »