Falling Pork Prices Save China from a 5pc CPI Print

iFeng: 猪肉降价了！结束环比6连涨，带动鸡肉鸭肉下跌…商务部：加大投放力度

Under the combined action of a series of measures, there has been a positive change in pig production. The latest National CPI (Consumer Consumer Price Index) released by the National Bureau of Statistics in December shows that food price inflation has eased, especially the end of the 6-month sequential increase in pork prices. The year-on-year increase in pork prices also dropped 13.2 percentage points from November. Market analysis believes that the coming of the Spring Festival will continue to drive food prices up. It is expected that there will still be inflationary pressures in early 2020, but pork prices will have downward pressure after the Spring Festival.

It is worth noting that structural inflation has been repaired. Food prices in December 2019 increased by 17.4%, a decrease of 1.7 percentage points from the previous month; non-food CPI rose by 1.3% year-on-year, 0.3 percentage points higher than the previous value. Analysis believes that in the next stage, it is necessary to focus on the advent of the Spring Festival, which may continue to drive up food prices, and still need to continue to pay attention to the rise in oil prices caused by the unstable and uncertain international environment.

NBS: 2019年12月份居民消费价格同比上涨4.5%