Inflation data out of China, pork prices a big factor in the CPI
CPI expected 2.9% y/y, prior 2.8%
- fastest rise since October of 2013
PPI expected -1.2% y/y, prior -0.8%
- fastest rate of decline since July 2016
more to come
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Background to the rising price of pork ( swine flu outbreak ):
- supply issues worsened over the summer
- pig inventories fell at a sharp rate
- live pig prices hit a record high last month
- the Chinese government to announced price caps, quotas, subsidies to pig farmers