Inflation in China picks up again after rare decline

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Inflation
Inflation

dpa/GNA – Consumer prices in China rose slightly in December, after a rare decline the previous month.

Inflation was 0.2 per cent year-on-year, the statistics office reported in Beijing on Monday.

For the first time in eleven years, consumer prices had declined in November.

Experts had explained the deflationary trend mainly with a decline in pork prices, which account for a strong share of the consumer price index in China.

Following an outbreak of African swine fever in China, supplies had plummeted and prices skyrocketed.

The situation has eased in recent months, leading prices to fall again.

The coronavirus pandemic in China is considered to have been largely overcome. Consumption is gathering pace, and consumer prices are picking up again after the unusual decline.

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