China Pork Prices Spike 69%, Driving Consumer Inflation to Near 6-Year High

Surging pork prices pushed China’s consumer inflation to a near six-year high in September, complicating Beijing’s effort to stimulate growth but also giving it a strong incentive to buy more agricultural goods from the U.S.

The consumer-price index rose 3% in September from a year earlier, according to data released by the National Bureau of Statistics on Tuesday, bumping up against Beijing’s inflation target of “around 3%” this year. The rise in consumer prices accelerated from August’s 2.8% expansion and topped a median forecast for 2.9% growth from economists polled by The Wall Street Journal.

The main factor was surging pork prices, up 69% from a year earlier--the fastest rise in 12 years--and contributing to more than half of the headline CPI’s September increase...

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