China's June CPI may rise 2.4% amid higher pork prices – Daily
|China's consumer price index likely rose 2.4% in June from May's 2.1% amid rapidly higher pork prices, as breeding companies are reluctant to sell when the prices are seen as bullish, the Securities Dailly reported citing analysts.
Key takeaways
“The average wholesale price of pork nationwide is CNY26.69 per kg on Wednesday, which has increased by about 26% from June 1, the newspaper said citing data by the Ministry of Agriculture and Rural Affairs.”
“The National Development and Reform Commission is releasing pork reserves and meeting with major breeding companies to safeguard supply and stabilise prices this week.“
This comes ahead of China’s latest CPI data due for release on Saturday.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.