Inflation in China Increases Due to Cold Weather

Inflation in China Increases Due to Cold Weather

Inflation in China Increases Due to Cold Weather

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Added: 11-01-2013
Runtime: 0m 56s
Views: 20
Comments: 0

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Inflation in China has reached a seven-month high. It comes as the country is dealing with its coldest winter in 28 years, pushing up the prices of vegetables and pork. The consumer price index for December was 2.5 percent higher from the previous year, according to the National Bureau of Statistics. Chinese stocks also took a plunge on the news, and concerned with whether Chinese exports and credit growth will rise due to the inflation. Snow in North China and warmer temperatures in the south have affected the price of vegetables and their growth and even transportation. Also, with less produce available, people are eating more pork, driving up the prices for that commodity. Sinolink Futures believes vegetable prices climbed over eight percent in December alone. Bank of Communications chief economist Lian Ping believes that the consumer price index will grow to three or 3.5 percent this year.

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