China consumer price growth hits 15-month high - pork soars 18.2pc
CHINA's consumer prices rose 2
CHINA's consumer prices rose 2.7 per cent year on year in May, according to data from the National Bureau of Statistics, quickening from the 2.5 per cent increase in the previous month, reports London's Financial Times.
The rise was in line with estimates from economists polled by Reuters. Pork prices, a major component of the index, rose 18.2 per cent with food prices rising 7.7 per cent. More than one million pigs have been culled since the first case of swine fever was logged in August, the Ministry of Agriculture said, pushing up the cost of the popular meat.
Growth in producer prices slowed to 0.6 per cent, from 0.9 per cent in the previous month.