Rising pork prices push China consumer inflation to 2-year high
Consumer inflation in China increased in July to its highest level in two years, mostly as a result of rising pig prices.
Due mostly to rising pork prices, China's consumer inflation increased in July to its highest level in two years, while sluggish consumer demand restrained overall price pressures. According to National Bureau of Statistics statistics released on Wednesday, the consumer price index increased 2.7% from a year ago during the last month while pig prices increased by 20.2%. Compared to the 2.5% climb in June, the CPI increase was less than the 2.9% consensus prediction in a Bloomberg survey of experts.