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China Inflation At 34-Month High On Rising Food Prices

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Inflation in China hit its highest level in 34 months despite the government's efforts to rein in rising prices.

Consumer prices in China rose by 5.5% in May, compared with the same month last year, according to the National Bureau of Statistics.

Food prices continued to be the biggest factor as they surged by 11.7%

The rising cost of food and commodities have pushed up the cost of living and become a hot political issue in China.

Analysts warned that prices are likely to rise even further.

"For now, it seems certain that China's CPI will hit 6% in June," said Xu Biao of China Merchants Bank.

Uncle Ben's screwing over of China is working well.

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Yup 'cept the CCP will actually reign it in you know by putting up interest rates and reserve requirements.

Because last time inflation went super high something bad happened in 1989.

Unlike the UK or US where a 0.25% interest rate rise means the economy = toast!

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  • 309 Brexit, House prices and Summer 2020

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      • down 5% +
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