In this file:
· Chinese pork prices high ahead of New Year's celebrations
… year-on-year prices had risen by 110%...
· China's CPI up 2.9% in 2019
… The hike was mainly driven by food prices, which soared 17.4 percent year on year last month…
Chinese pork prices high ahead of New Year's celebrations
An African swine fever outbreak has decimated China's pork stocks, keeping food prices high and contributing to overall high inflation. The high prices will make Chinese New Year's feasts more expensive.
Deutsche Welle (Germany)
Jan 9, 2020
An ongoing African swine fever outbreak in China is squeezing the country's pork supply, keeping prices up and contributing to high inflation, according to numbers released Thursday by the National Bureau of Statistics.
Government data shows pork prices nearly doubled in December 2019 compared to the same month in 2018. Food prices overall increased by 17.4% in the same period.
The shortage comes ahead of pork-laden feasts celebrating the Lunar New Year on January 25. The government has been attempting to stop the increase in pork prices by releasing more than 100,000 tons of frozen meat from stored reserves over the past several weeks.
Although pork prices remain high, there was some success slowing the increase compared with the November 2019 time frame, during which year-on-year prices had risen by 110%.
"With positive changes in hog production, a release of pork from central and local reserves to the market, as well as a rise in imports, the pork supply situation has eased slightly," the National Bureau of Statistics said.
China is the world's largest producer and consumer of pork, and increased import demand has spiked pork prices worldwide.
Year of the expensive pig ...
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China's CPI up 2.9% in 2019
via China.org.cn - January 9, 2020
China's consumer price index (CPI), a main gauge of inflation, rose 2.9 percent year on year in 2019, within government target of 3 percent, official data showed Thursday.
The growth picked up from 2.8 percent in the first 11 months, and was above the 2.1-percent annual increase in 2018, according to the National Bureau of Statistics.
In December, the CPI climbed 4.5 percent year on year, unchanged from that in November.
The hike was mainly driven by food prices, which soared 17.4 percent year on year last month, contributing 3.43 percentage points to the increase in December.
As government measures at national and local levels to restore hog production started to take effect, the soaring trend of pork prices affected by the African swine fever and cyclical factors has softened in the past month.
Pork prices surged 97 percent year on year in December, slowing from the 110.2-percent growth seen in November. Prices of other kinds of protein including beef, mutton and poultry saw slower growth last month.
Non-food prices gained 1.3 percent last month, faster than the 1-percent growth in November, the bureau said.
The CPI in urban and rural areas posted a year-on-year growth of...