China's inflation rises to 4.5 percent in November: eight-year high

(PTI) Beijing, Ta. December 10, 2019, Tuesday

In China, inflation rose to the top of the last eight years in November. Inflation has risen due to the doubling of pork mass due to the spread of African swine flu.

According to data released by the National Bureau of Statistics (NBS), November inflation in China was 4.5 percent. Inflation in October was 3.8 percent. The 4.5 percent inflation seen in November is the highest in the last eight years.

Bloomberg estimates inflation to be 4.3 percent in November. The supply of pork has been lost due to the spread of African swine flu since August 2018. Due to this, pork prices have risen by 110% in November.

In addition, prices of protein-rich items, including eggs, have also seen a surge in China. It is worth mentioning that since August 2018, the Chinese government has ordered pigs to kill pigs due to the spread of African swine flu.

Vehicle sales in China also declined in November. China's vehicle sales declined 5.4 percent in November. According to the China Association of Automobile Manufacturers, in November, only 2 million SUVs, the sedan Hum minivan, were sold.

Vehicle sales in the 11 months to November are down 10.5 percent compared to last year. It is worth mentioning that in the last few years, vehicle sales in China have seen double digit growth. As a result, China became the world's largest market for vehicle sales.