June 16, 2024

The Queens County Citizen

Complete Canadian News World

China’s pork prices have been rising slowly over the years

China’s pork prices have been rising slowly over the years

A breeder eats piglets on a pig farm on May 13, 2020 in Beiji, Guizhou Province, China.

Visual China Group | Getty Images

BEIJING – China’s consumer price index rose slightly in September on rising food prices, despite a sharp slowdown in pork prices.

The Consumer Price Index rose 1.7% last month from a year ago, China’s National Bureau of Statistics said on Thursday. That figure is slightly lower than the 1.8% increase expected by analysts in the Reuters poll, up from 2.4% in August.

Total food prices rose 7.9% in September from a year earlier, while fresh vegetable prices rose 17.2%.

Pork prices have risen 25.5%, but have been slower than most 100% increases over the past 12 months. In August, pork prices rose 52.6% year-on-year. According to the Bureau of Statistics, September to September print growth has slowed.

African swine flu has devastated China’s swine herds, leading to a major shortage of meat, crucial to a country of 1.4 billion people.

In the first three quarters of this year, China’s pork imports more than doubled from a year ago, the National Customs Agency said on Tuesday. Beef imports increased by 38.8% during that period. At the same time, China imports American agricultural products Increased 44.4% from a year ago.

The Manufacturers’ Price Index fell 2.1% a year earlier than the Reuters poll predicted a 1.8% decline.

– Yen Ni Lee of CNBC contributed to this story.

About The Author