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China's food prices rise 15% in October

African swine fever sends pork prices 101% higher than same period in 2018.

The Consumer Price Index (CPI) for China rose 3.8% from the previous year, the National Bureau of Statistics of China reported this week. Food prices went up 15.5%, while non-food prices increased only 0.9%. From January to October, on average, overall consumer prices were up 2.6% from the same period of the previous year.

In October, the livestock meat price rose 66.8% compared to the same period last year, affecting nearly 3% increase in the CPI. The impact of African swine fever was apparent as the price of pork was up 101.3% year over year, affecting a nearly 2.43% increase in the CPI. Beef price rose 20.4%, and poultry meat prices rose 17.3%. The price of eggs rose 12.3%, and aquatic products jumped 2.7%.

From September to October alone, livestock meat price increased 14.7%. The price of pork rose 20.1% during the month.

National Bureau of Statistics of Chinaoctober 19 consumer prices.jpg

TAGS: Business
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