December 12, 2019

China's National Bureau of Statistics - pork prices rose 110% in November

Pork prices increased 110% in November this year compared to the same time in 2018, and 101% in October 2019 compared to a year ago, resulting in the highest consumer price inflation levels in eight years, reported CNBC.

Overall, China's consumer prices increased 4.5% in November 2019 compared to November 2018, with producer prices falling 1.4% compared to 2018.

Julian Evans-Pritchard and Martin Rasmussen, China economists at Capital Economics, a research consultancy said the rising food prices trend will start to slow down.

They said the food inflation rise will reverse, and price pressures on broader demand-side will stay slow as producer prices continue to drop and core consumer price inflation now currently hitting its lowest in three years.

They added that the swine supplies are beginning to recover in China following the massive African swine fever outbreak, with swine inflation moderating considerably in month-on-month terms last month even as it remains high in year-on-year terms.

Consumer price inflation should peak before long, even as it will take some time before swine prices begin to fall once more, they said.

-      CNBC