China consumer inflation in July reaches 2-year high as pork costs surge

The consumer price index in China rose 2.7% last month from a year earlier as pork prices surged 20.2%

China’s consumer inflation accelerated in July to the highest level in two years, largely due to surging pork costs, while weak consumer demand kept overall price pressures in check.
 

The consumer price index rose 2.7% last month from a year earlier as pork prices surged 20.2%, National Bureau of Statistics data showed Wednesday. The pickup in CPI was lower than the 2.9% median estimate in a Bloomberg survey of economists and compares with 2.5% growth in June.

Producer price inflation, meanwhile, slowed to 4.2% in July from 6.1% in June as commodity prices weakened.

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