Food prices in China rise as economy stalls
This is the best tl;dr I could make, original reduced by 81%. (I'm a bot)
Already grappling with a slowing economy and President Donald Trump's trade war, Beijing now has to worry about the rising price of food.
Government officials are reassuring the country that food supplies are plentiful, even as they take steps to stabilize prices.
While overall inflation may not be high, he added, rising prices for visible goods like pork, fruit and vegetables can affect consumer spending - a potential problem for China's economy.
"The prices of fruit and vegetables have caught everyone's attention," said Chenjun Pan, executive director of food and agriculture at RaboResearch.
China still suffers from excess factory capacity in cars, steel and other industries, meaning production could quickly ramp up if prices rise.
The price of pork jumped 14% in April compared with a year earlier, while broader food prices for consumers rose 6.1%, according to government statistics.
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Posted Jun 4, 2019, 3:01 PM UTC