China prices remain high ASF spikes pork price impacts January 9 13:54
China's Consumer Price Index rose 4.5% last month compared to the same month of the previous year due to the continuing rise in pork prices. The growth rate has leveled off from the previous month, which was the first time in seven years and 10 months, and there is concern that this may affect the Chinese New Year and the sale for the Chinese New Year later this month.
Last month's Consumer Price Index, released by China's National Bureau of Statistics on Tuesday, rose 4.5% from the same month of the previous year.
The rate of increase has leveled off from the month before, the first time in seven years and ten months, and remains at a high level.
The main cause of the rise is the rise in pork prices due to the spread of the ASF, the so-called infectious disease of pigs, the so-called African swine fever.
Last month's pork prices were nearly twice as high as in the same month of the previous year, alone boosting the CPI by 2.34 points.
In addition, beef and poultry prices are rising along with soaring pork prices.
In China, where the New Year is celebrated in the lunar calendar, consumption is expected to rise the most in the year ahead of the Lunar New Year, but the rising price of pork, which is indispensable for Chinese dining tables, will also affect the Spring Festival Is concerned.