Business & Economy

China’s Inflation rate rises by 0.5 percent, lowest since 2009

Beijing, Nov 10 (efe-epa).- China’s main inflation indicator, the consumer price index, rose by 0.5 percent year-on-year last month, its smallest advance since October 2009, according to official data published Tuesday.

This is also the first time the index rises by less than 1 percent since March 2017. In September, the index had already marked its lowest point of 2020, rising 1.7 percent.

The main protagonist of the variation was, as usual for almost two years, pork, whose prices have suffered tremendous volatility due to the African swine flu epidemic, which wiped out tens of millions of animals in China and raised serious problems in production.

However, for the first time after 19 months of increases, pork prices fell – specifically, 2.8 percent compared to October 2019 – which contrasts with the rise of 25.5 percent from September and 52.6 percent from August.

Chinese state statistician Dong Lijuan pointed to an even greater recovery in pork production capacity, which has also facilitated an improvement in its supply. Pork meat is the most consumed in China.

In general, food prices rose by 2.2 percent, while those of other types of products included in the index remained at the same level as in 2019.

The statistics office also released the producer price index, an indicator of wholesale inflation, which in October fell by 2.1 percent again, as in the previous month.

In comparison with the previous month, wholesale prices did not suffer variations. EFE-EPA


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