(MENAFN) China's Consumer Price Index (CPI) is expected to increase 1.9 percent in the current month from last year, up marginally from the 1.6 percent posted in July, all contributing to inflation growth.
Reports attribute the forecasted CPI growth to rising food prices, which account for around one-third of the weighting in CPI calculation, moreover, this expected increase, will be below the 3 percent target.
For example, as a result for last year's low prices in general and the rising price of feeding the pigs which made farmers less willing to raise pigs, pork prices have been driven up since the beginning of this year.
Pork prices went up 16.7 percent in July compared to the previous year, which presented itself as the key factor of food inflation, thus contributing 0.48 points to the CPI increase of 1.9 percent.
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