From ABC News:
Surging food prices boosted China’s annual consumer price inflation in May to a 27-month high, extending a rising trend and reinforcing expectations that interest rates will rise further.
Inflation quickened to 3.4 percent last month from 3 percent in April, the National Bureau of Statistics said on Tuesday. Food prices, which make up a third of the consumer basket, rose 8.3 percent from a year earlier and a shortage of pork caused meat prices to jump 26.5 percent. [Full text]
See an earlier CDT post on rising pork prices as well as its consequences.
