China inflation surges in September 2019 as pork prices soar

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Inflation in China hits 3% in September 2019, the highest since November 2013.

Authorities have gone as far as tapping the nation's pork reserve to control prices of the staple meat, as the swine fever crisis could become aThe consumer price index – a key gauge of retail inflation – hit 3% last month, the National Bureau of Statistics said, up from 2.8% in August and the highest since November 2013.The rise was caused by food price inflation, particularly disruptions to pork supply, Capital Economics said in a note.

"Looking ahead, consumer price inflation should continue to accelerate in the coming months as supply disruptions continue to push up pork prices and as the drag from lower oil prices eases," said Martin Lynge Rasmussen from Capital Economics.

 

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