China's June CPI could increase by 2.4% due to increasing pig costs - Daily

According to analysts cited by the Securities Daily, China's consumer price index likely increased by 2.4 percent in June from May's 2.1 percent due to sharply rising pig prices and breeding enterprises' reluctance to sell when prices are considered

July 06, 2022 - 12:17 PM 224 views

China's June CPI could increase by 2.4% due to increasing pig costs - Daily

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© China's June CPI could increase by 2.4% due to increasing pig costs - Daily

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According to analysts cited by the Securities Daily, China's consumer price index likely increased by 2.4 percent in June from May's 2.1 percent due to sharply rising pig prices and breeding enterprises' reluctance to sell when prices are considered positive.

Important Takeaways

According to data from the Ministry of Agriculture and Rural Affairs, "the average wholesale price of pork nationally is CNY26.69 per kg on Wednesday, up roughly 26% from June 1."

To protect supply and maintain prices this week, the National Development and Reform Commission is releasing pork reserves and meeting with significant breeding enterprises.

This comes before the announcement on Saturday of the most recent CPI figures for China.

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