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16

2022

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08

Pork Price Drives CPI to a Two-year High in China

Source:

how to view the rising trend of pig prices in July?

 

 

At the press conference held by the State Council Information Office on Aug 15, regarding the question “how to view the rising trend of pig prices in July?” Fu Linghui, spokesman of the National Bureau of statistics, said that the rise of consumer prices in July was expanded, with consumer prices rising by 2.7% YOY, an increase of 0.2 percentage points over the previous month, which was mainly affected by the increase in food prices.

 

Among them, the pork price increased by 20.2% YOY and decreased by 6% last month due to the reduction of the production capacity of pigs in the early stage, the reluctance of farmers to sell and the recovery of consumer demand. The rise of pork prices driving CPI to a two-year high.

 

Although the price of pork has risen rapidly recently, the production capacity of live pigs is generally at a reasonable level. In addition, the strengthening of market regulation and guidance is conducive to stabilizing the relationship between supply and demand. It is unlikely that the price of pork will rise significantly.