Inflation in China rises to 3.8 percent in October: the highest since 2012

(PTI) Beijing, Ta. November 9, 2019, Saturday

China's inflation rose to 3.8 percent in October due to the rise in pork prices due to African swine fever. Which is the highest level in the last eight years.

According to the National Bureau of Statistics (NBS), China's inflation rose to 3.8 percent in October. Which was 3 percent in September. Which is the highest rate since January 2012.

Bloomberg News experts estimated inflation at 3.4 percent before inflation figures were released. Pork prices have doubled in the last one year, according to NBS.

In August 2018, more than 1 million pigs were killed by the spread of African swine fever. As a result, the prices of other animals increased, as people without pork were turning to chickens, ducks and eggs.

Due to which the government had to intervene to keep the prices balanced. It is worth mentioning that in 1989, the inflation rate was 18.25 percent in 1989, which led to a large number of protests.