The Rise in the Pork Price Has Accelerated China's Inflation

According to the National Statistical Office, in October the consumer price index in the country increased by 3.8% on an annual basis. At the same time, the growth is 0.8% more than last month.

In a comment, State Statistics Office spokesman said at a press conference yesterday that the change was mainly due to rising food prices. In November, they rose by 15.5%, contributing 80% to the growth of the index.

The State Statistics Office spokesman said the biggest increase was observed in the price of pork, which increased by 101.3% and affected the overall rise in the consumer price index. Local authorities are paying close attention to current problems in the pig sector and production is gradually recovering, the spokesman said, adding that the price will gradually stabilize.