Rainy weather in southern China ruined plants and crops. African swine fever is expected to reduce pork production by 25-35 per cent. The US-China trade war is an additional factor. Fruit prices rose 26.7 per cent whilst pork prices jumped 18.2.
Beijing (AsiaNews) – Consumer inflation in China hit a 15-month high in May, as fruit and pork prices surged to multi-year highs, 26.7 per cent and 18.2 per cent respectively.
China’s consumer price index (CPI) rose 2.7 per cent year-on-year in May, up from 2.5 per cent growth in the previous month, this according to the National Bureau of Statistics (NBS). This is the highest level since February 2018.
The average fresh fruit hike of 26.7 per cent is significantly higher than the 11.9 per cent growth in the previous month and marks the fastest increase in more than eight years.
Surging fruit prices were chiefly due to low stocks caused by cuts to apple and pear production last year, amid frequently overcast and rainy weather in southern China.
The price of pork continues to rise due to the African swine fever outbreak of last August, which hit many farms and led to the culling of hundreds of thousands of animals.
The price of pork, one of the main stapes of the Chinese diet, saw its highest rise in the last three years.
Some analysts expect a 25 per cent to 35 per cent loss in China's pork production in 2019, a situation that will get worse as the US-China trade war rages on.