In November the consumer prices in China fell for the first time since 2009. It is mainly attributed to the sharp lower prices for pork. According to figures from the Chinese statistical office, inflation declined by 0.5 percent on an annual basis, the first decline since October 2009.
Pork is a very important element in the calculations on Chinese consumer prices. The supply of pig meat in China has been restored following an outbreak of African swine fever in the country last year, by importing large quantities of meat from abroad. This means that pork prices have fallen considerably. Last year, the outbreak and the lack of pork raised the prices considerably.
Chinese producer prices decreased by 1.5 percent on an annual basis last month.