Pork Prices Extend Plunge in Bad Deflationary Omen for Chinese Economy
- Beijing’s announcement of reserves purchases can’t stem drop
- Consumer prices posted steepest decline since 2020 last month
The outlook for the nation’s massive pork industry remains bearish.
Source: Bloomberg
This article is for subscribers only.
Chinese pork prices tumbled more than 6% last week despite efforts by authorities to boost the market, adding to growing concerns around deflation in Asia’s biggest economy.
Average national prices for the country’s most-popular protein are now at their lowest since April 2022 and have fallen by almost a quarter from this year’s high in early August.