China’s inflation fastest since 2012 on surging pork prices

Beef for sale is seen at a Walmart in Beijing. China, the biggest consumer of pork, has boosted beef and other meat imports as consumers seek alternatives following the deadly swine disease that’s killed millions of pigs. - Reuters

BEIJING: China’s consumer inflation accelerated to a seven-year high in November while producer prices extended their run of declines, complicating the central bank’s efforts to support the economy.

The consumer price index rose 4.5% last month from a year earlier, following a 3.8% gain in October, the National Bureau of Statistics data showed Tuesday. The median forecast was for a 4.3% increase. Factory prices fell 1.4% on year, slower than the 1.6% drop in October while extending the run of negative readings to five.