Swine flu causes China food inflation to hit 9%

0
73

China’s food price market took a hit in July as the persistence of African swine flu forced food inflation to rise to 9%.

The National Bureau of Statistics (NBS) said the continuous spread of the flu has wiped out nearly 25% of the pig population in China.

Pork prices are soaring to historically high levels, jumping 27% from July 2018.

“Surging pork prices continued to push up consumer price inflation,” said Julian Evans-Pritchard, senior China economist at Capital Economics.

China is the largest consumer of pork in the world.