China Price rises in African pig cholera Concerns about consumption November 9th 14:39
China's consumer price index last month rose 3.8% compared to the same month last year, as pork prices soared due to the impact of African swine fever.
There are concerns over the impact on future households and consumption at levels that exceed government goals.
China's National Bureau of Statistics announced on the 9th that the consumer price index last month was 3.8% positive compared to the same month last year, an increase of 0.8 points from the previous month.
The rate of increase has continued for two consecutive months, according to Chinese media, the highest level since January 2012 for the first time in seven years and nine months.
Due to the spread of African swine fever infection throughout China, the price of pork has more than doubled compared to the same month last year, which alone boosted consumer prices by 2.43 points.
In addition to preventing the spread of infection, the Chinese authorities are taking measures to reduce the price of pork, such as releasing frozen pork stock that has been stockpiled to the market.
The Chinese government has set the target of the rate of increase in consumer prices for the past around 3%, but it has exceeded that level last month, and there are concerns about the impact on households and consumption in the future.