China's Consumer Prices Rise 1.7% in September... Producer Prices Fall for 8 Consecutive Months

Slowing Consumer Price Increase Due to Stable Pork Prices
Producer Prices Down 2.1%

[Asia Economy Beijing=Special Correspondent Jo Young-shin] Pigs have controlled consumer prices in China.

It is analyzed that the Chinese pig farming market, where more than 100 million pigs were culled due to African Swine Fever (ASF), has recovered, positively affecting consumer prices.

China's National Bureau of Statistics announced on the 15th that the Consumer Price Index (CPI) in September rose by only 1.7% compared to the same month last year. This is a slowdown from 2.4% in the previous month.

Since the outbreak of the novel coronavirus disease (COVID-19), consumer prices in China once soared to the 5% range and have remained around 2% since May.

Industry insiders in China analyze that consumer prices have stabilized as pork prices have stabilized.

After the ASF outbreak, pig farming that was culled has recently normalized, leading to a drop in pork prices.

As pig farming increases, feed companies are also reportedly enjoying a boom.

The Producer Price Index (PPI) fell by 2.1% compared to the same month last year.

Sun Bu, chief analyst at Huaxi Securities in China, said, "Currently, pig farming is in the recovery phase of production capacity, and it is expected to enter the realization phase of production capacity in the fourth quarter," adding, "From now until next year's Seollal, pork supply and demand will increase, and the supply will be released, causing pig prices to fall."

This content was produced with the assistance of AI translation services.