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NBS Expects No Change To June CPI, Weak Pork Prices - Yicai


China’s National Bureau of Statistics expects June’s CPI data to remain unchanged from May’s 0.2% y/y increase, according to Yicai. The news outlet noted pork prices, a key component of CPI, have dragged down inflation this year as producers increased slaughter due to swine flu and faced lower than expected consumer demand. The NDRC began a new round of pork purchasing to increase national reserves and stabilise prices. Wu Chaoming, deputy director of the Caixin Research Institute, said CPI in June will remain below 1% y/y, reflecting insufficient domestic demand and slow recovery of household income. (Source: Yicai)

MNI Beijing Bureau |
MNI Beijing Bureau |

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