Sunday 17 November 2019 ,
Sunday 17 November 2019 ,
Latest News
  • Onion price starts falling; wholesalers receive backlash
  • PM joins Dubai air show opening ceremony
  • Holey Artisan attack case verdict Nov 27
  • No rice crisis expected like onion: Minister
  • Gas pipeline blast kills 7, injures 15 in Ctg
  • Road Transport Act takes effect: Quader
  • Not only onion’s, prices of all essentials soaring: Fakhrul
13 June, 2019 00:00 00 AM
Print

China inflation hits highest level in 15 months

AFP, Beijing

Inflation in China rose to its highest level in more than a year in May driven by surges in pork and fruit prices caused by the African swine fever epidemic and bad weather, official data showed yesterday.

But while prices are increasing, demand remains weak because of the trade war with the United States and economic uncertainty.

The consumer price index (CPI) — a key gauge of retail inflation—hit 2.7 percent, the National Bureau of Statistics (NBS) said, compared with 2.5 per cent in April and the highest since February 2018.

The data was in line with a forecast of analysts polled by Bloomberg News.

The rise was “largely the result of renewed acceleration in food price inflation”, and pork supply disruptions caused by African swine fever, Capital Economics said in a note.

Millions of pigs have been culled recently as the disease cuts through China and beyond, devastating global food chains and impacting pork prices from the food markets of Hong Kong to US dinner tables.

The price of pork soared 18.2 per cent in May, China’s NBS said. The price of fresh fruit on-year was up 26.7 per cent as bad weather hammered supplies.

Beijing’s official statistics say around one million pigs have been killed since the first outbreak in August—but that is widely considered to be an underestimate.

The producer price index (PPI), an important indicator of domestic demand, hit 0.6 per cent in May, from 0.9 per cent the previous month.

Economic “growth could slow further on escalating US-China trade tensions”, Nomura International said in a note.

“We expect Beijing to undertake further easing/stimulus measures to bolster confidence and to stabilise growth.”

 

Comments


Copyright © All right reserved.

Editor : M. Shamsur Rahman

Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

Disclaimer & Privacy Policy
....................................................
About Us
....................................................
Contact Us
....................................................
Advertisement
....................................................
Subscription

Powered by : Frog Hosting