A Pork Meme in China Shows Why Officials Worry About Soaring Prices
- Pork prices surged 46.7% in August from a year earlier
- Government is trying to boost supply decimated by swine fever
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China’s pork prices are soaring so quickly that an internet meme has emerged suggesting the newest way to show off wealth: a necklace made of pork belly.
Inflation data released Tuesday showed that pork prices surged 46.7% from a year earlier in August, almost 20 percentage points higher than in the previous month, as African swine fever ravaged China’s hog herd and diminished supplies.