Foreign

Swine fever drives up China’s inflation in September

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According to official data released on Tuesday, a sharp rise in the price of pork due to limited supply against the backdrop of swine fever has driven up China’s inflation in September.


The National Bureau of Statistics said China’s consumer price index, the main gauge of inflation, rose three per cent year-on-year in September.

While food prices jumped 11.2 per cent, with pork prices soaring 69.3 per cent.

China has been battling an outbreak of swine fever, which led to the government releasing pork supplies from its central reserves last month to stabilise prices.

The producer price index, which measures the cost of goods at the factory gate, dropped by 1.2 per cent year-on-year in September.

China is set to release economic growth data for the third quarter of the year on Friday.

In the second quarter, the world’s second-largest economy grew 6.2 per cent, its slowest rate in almost three decades. (NAN)


HS/AIB

Edited by Halima Sheji/Abdulfatah Babatunde

https://nnn.ng/swine-fever-drives-up-chinas-inflation-in-september/

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