Quantcast
Connect with us

China inflation hits highest level in 15 months

Published

on

Inflation in China rose to its highest level in more than a year in May driven by surges in pork and fruit prices caused by the African swine fever epidemic and bad weather, official data showed Wednesday.

But while prices are increasing, demand remains weak because of the trade war with the United States and economic uncertainty.

The consumer price index (CPI) — a key gauge of retail inflation — hit 2.7 percent, the National Bureau of Statistics (NBS) said, compared with 2.5 percent in April and the highest since February 2018.

The data was in line with a forecast of analysts polled by Bloomberg News.

The rise was “largely the result of renewed acceleration in food price inflation”, and pork supply disruptions caused by African swine fever, Capital Economics said in a note.

Millions of pigs have been culled recently as the disease cuts through China and beyond, devastating global food chains and impacting pork prices from the food markets of Hong Kong to US dinner tables.

ADVERTISEMENT

The price of pork soared 18.2 percent in May, China’s NBS said. The price of fresh fruit on-year was up 26.7 percent as bad weather hammered supplies.

Beijing’s official statistics say around one million pigs have been killed since the first outbreak in August — but that is widely considered to be an underestimate.

The producer price index (PPI), an important indicator of domestic demand, hit 0.6 percent in May, from 0.9 percent the previous month.

Economic “growth could slow further on escalating US-China trade tensions”, Nomura International said in a note.

ADVERTISEMENT

“We expect Beijing to undertake further easing/stimulus measures to bolster confidence and to stabilise growth.”

US President Donald Trump is expected to meet China’s Xi Jinping at the G20 summit in Japan this month to discuss the long-running trade row, but US Commerce Secretary Wilbur Ross has warned that it will not be a stage for a “definitive agreement”.

Report typos and corrections to [email protected].
READ COMMENTS - JOIN THE DISCUSSION
Continue Reading

DC Report

Trump’s EPA wants minimal limits on poison in drinking water

Published

on

The Trump EPA calculated recommended limits of a dangerous chemical sometimes found in drinking water that can harm babies’ brain development that were more than 9 times higher than those imposed by a few states by fudging a key number in the calculation.

The Trump recommended a limit for perchlorate, which can harm infant brain development, of 56 micrograms per liter, far above the limit of 6 that California imposed and 2 that Massachusetts set, more than a decade ago.

Continue Reading

Facebook

MSNBC’s Mika scorches Trump over sex assault denials: ‘What type of woman would you rape?’

Published

on

MSNBC's Mika Brzezinski revealed the horrific meaning behind President Donald Trump's defense against new rape claims.

Author and columnist E. Jean Carroll has accused the president of raping her more than 20 years ago after a chance meeting at a Manhattan department store, but Trump insists he couldn't have assaulted her because she's not his "type."

"We're talking about sexual assault, talking about actual rape and the president said that she's not his type," the "Morning Joe" co-host said. "So I guess the follow-up question is, since you have a type when it comes to rape, what's your type, Donald Trump, and is it any of the other women who claimed that you raped them?"

Continue Reading
 

Facebook

Bolton says Iran silence on US talks offer ‘deafening’

Published

on

US National Security Advisor John Bolton on Tuesday described as "deafening" Iran's apparent silence on an offer to negotiate with Washington.

"The president has held the door open to real negotiations," Bolton told journalists in Jerusalem.

"In response, Iran's silence has been deafening," he added.

Bolton is in Jerusalem for what Israel described as unprecedented talks with his Russian and Israeli counterparts, along with meeting Prime Minister Benjamin Netanyahu.

Speaking alongside the US advisor, Netanyahu said there was "a wider basis for cooperation between the three of us than many believe."

Continue Reading
 
 

Copyright © 2019 Raw Story Media, Inc. PO Box 21050, Washington, D.C. 20009 | Masthead | Privacy Policy | For corrections or concerns, please email [email protected]

 ENOUGH IS ENOUGH 

Trump endorses killing journalists, like Washington Post columnist Jamal Khashoggi. Online ad networks are now targeting sites that cover acts of violence against dissidents, LGBTQ people and people of color.

Learn how you can help.
close-link