China's Consumer Prices Gain at Fastest Rate in Six Years, Jumping 3% in September(Yicai Global) Oct. 15 -- China's consumer prices rose at the quickest pace in six years last month as soaring pork prices pushed up the cost of living in the wake of African swine fever outbreaks.
The consumer price index jumped 3 percent in September from a year earlier, according to data the National Bureau of Statistics published today. That's the strongest growth since October 2013. It is also the seventh straight month that the CPI has shown a reading above 2 percent.
The indicator beat the average expectation for 2.9 percent, and topped the 2.8 percent rate logged for August.
Pork prices were the single biggest contributor to the gain. The cost of the meat soared over 69 percent from the same period last year, contributing 1.65 percentage points to the CPI's increase, the NBS said.
Editor: Ben Armour
