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China Outbreak to Spur Higher Prices as Farm Links Disrupted

  • Prices were already rising the fastest since 2011 in January
  • Supply and transport shutdowns could cause faster inflation
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China’s Consumer Inflation Accelerated in January, Beating Forecasts
Updated on

China’s consumer prices rose the fastest in more than eight years last month, with the outbreak of the coronavirus and subsequent shutdowns of transport links across the country making further gains in the coming months likely.

Consumer prices rose 5.4%, with food prices jumping the most since 2008 in January. Even before the coronavirus, prices were likely to have risen sharply due to the normal spike in demand around the Lunar New Year and the effects of the African Swine Fever outbreak which has killed millions of pigs and damaged pork supplies. Pork prices gained the most on record.