Pig prices fell for the first time year-on-year in China, and CPI growth fell. What signals did the October price data release?

Published Nov 11, 2020

Tridge summary

In October, China's national consumer price index (CPI) rose by 0.5% year-on-year, with a 0.3% decrease from the previous month, primarily due to a decrease in food prices, particularly pork. Pork prices fell for the first time in 19 months, decreasing by 2.8% year-on-year, despite a high comparison base and reduced tail-lifting factors. The decrease in pork prices, along with lower energy prices and an adequate supply of eggs and fresh vegetables, contributed to the lower year-on-year increase in the CPI. The core CPI, which excludes food and energy prices, remained stable at a 0.5% year-on-year increase, indicating a stable price operation center. Experts predict that the CPI is expected to maintain a low level in the coming months, mirroring the low level of the same period last year.

Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The National Bureau of Statistics released data on the 10th. In October, the national consumer price index (CPI) rose by 0.5% year-on-year, 1.2 percentage points lower than the previous month. Among them, the price of pork fell for the first time after 19 consecutive months, and fell year-on-year. 2.8%. According to Dong Lijuan, a senior statistician at the City Department of the National Bureau of Statistics, the year-on-year increase in CPI has dropped significantly, mainly due to the high comparison base in the same period last year, the reduction in tail-lifting factors and the impact of pork prices. Food prices, especially pork Price is the main factor driving the year-on-year decline in CPI growth. In October, food prices rose by 2.2% year-on-year, which was 5.7 percentage points lower than the previous month. Among food products, pork prices fell for the first time year-on-year, and fresh vegetables, beef and lamb prices increased year-on-year The price of eggs, chicken and ...

Source: FoodChina