A Chinese customer lives while he stands in a shop in a shopping district on January 20, 2015 in central Beijing, China.
Kevin Frayer | Stringer | Getty Images
China's consumer inflation in May climbed to a maximum of 15 months, while food prices reaped as a result of the continued high pork price, the National Bureau of Statistics data showed Wednesday.
Consumer Price Index (CPI) grew 2.7% from a year ago, the highest since February last year and in line with the expectations of economists welcomed by Reuters.
Food prices reached 7.7% in May from a year ago, while non-food prices rose by 1
Pork prices in China continue to be high this year while the African swine fever affects the swine in the country. Prices of pork have reached 18.2% from a year ago in May, according to bureau statistics.
While Chinese diners – who provide half the pork consumption in the world – may be disturbed about higher prices, development is not something that will cause a wider panic market, Bo says Zhuang, China's chief economist at TS Lombard.
"China's pig prices are in a roller-coaster for the last decade," Zhuang said on CNBC.
The Chinese government said earlier this year that Chinese pig prices were expected to jump more than 70% from a year ago. However, that situation is not heard if pork prices are used to jump 50% to 60% a few years ago, so consumers only move to other meat such as chicken, beef or button, said Zhuang.
Meanwhile, producer prices Inflation (PPI) – an industrial gauge – dropped 0.6% in May from a year ago, according to expectations.
The latest economic data set comes amid a trade-off between the two largest economies in the world.
Today, the US has pocketed $ 250 billion in Chinese products, while Beijing has put tariffs at $ 110 billion in American goods. President Donald Trump threatens to impose separate tariffs on more than $ 300 billion of Chinese commodities currently underrepresented.