Consumer Inflation In Communist China Rises To A Two-Year High

According to the News of Himalaya BCN Joy Spain Farm, foreign media reported on Oct 14th that official data of Communist China showed that consumer inflation had reached a two-year high in September, with its main indicator of retail inflation being the Consumer Price Index (CPI) hitting 2.8% up from 2.5% in August. This figure was an all-time high since April 2020, when the communist country emerged from the first wave of the pandemic lockdown.

According to CCP’s National Bureau of Statistics (NBS), fresh vegetable prices rose by 6.5% from a year earlier due to high temperatures and low rainfall. The price of pork, the most popular meat in China, soared up 36%. The official explanation from the NBS is that some pork farmers are reluctant to sell with bullish expectations, leading to the sustained increase. However, in recent weeks, the CCP authorities have repeatedly released its pork reserves to stabilize the market and create a false political environment for the party’s 20th National Congress.

Communist China is well known as a major global market for pork consumption. Since the late 1970s, the CCP authorities have formulated a policy of strategic meat reserves in response to the systemic risks under a planned economy. After the introduction of a false market economy, the strategic material reserves became an effective means for the regime to alleviate market price fluctuations. .

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Translator: NFSC News
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