China Consumer Inflation Picks Up in May as Food Prices Jump

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China Consumer Inflation Picks Up in May as Food Prices JumpKey InsightsPork prices rose 18.2% from a year earlier, vegetable prices rose 13.3% and fruit prices rose 26.7% in May. NBS data also showed consumer prices were unchanged from April, indicating stabilizing inflation pressuresFood prices rose 7.7% from a year ago, contributing 1.48 percentage points to the CPI growth, according to a statement from the NBS“The surge of fruit and egg prices is short-lived and could subside in summer when supply increases’’ although pork prices could rise further due to African Swine Fever, said Lu Ting, chief China economist at Nomura Holdings Inc. in Hong Kong.

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