Data released this morning showed that consumer price inflation rose 0.1 per cent in the month of April, taking the annualised reading to 2.5 per cent from 2.3 per cent in March, and almost the highest reading of the last two years or so. The sort of reading many a central banker, whose inflation targeting mandates 2 per cent over the medium term, would dream of and which would be ‘a good thing’. The sad reality, in China the increase was fuelled by food prices which rose at 6.1 per cent annualised, from 4.1 per cent in the year to March, pork prices up 1.6 per cent in April and 14.4 per cent over the year because of African swine fever. This hits the poorest hardest.
To continue reading, register today
to enjoy limited access to the following:
- Daily trading news
- Funds coverage
- Features on big investment themes
- Comprehensive companies coverage
- Economic analysis