The overall food inflation in China during the first quarter of 2022 was down over 3% compared with the same quarter last year as significantly weaker pork price fended off the impact of stronger grains, vegoil and vegetable prices.
Pork price in China tanked nearly 42% during the first quarter, pulling lamb and chicken prices 3.5% and 2.3% lower respectively, according to the National Bureau of Statistics (NBS).
However, prices for aquatic products during the quarter spiked more than 10% year on year, largely because of rising costs of production and transportation.
Grains and oilseed prices rose in accordance with firmer international prices as uncertainties including supply chain disruptions, and the ongoing war in Ukraine spurred concerns.
Prices for vegetable edible oil and flour jumped 6.4% and 3.3% on the year.
Meanwhile, fresh fruit and vegetable prices climbed 4-7% as residents who are under lockdown bid up prices amid a major logistical bottleneck.
China’s CPI in last quarter edged 1% higher on the year. The most notable month-on-month gain occurred in March due to “the scattered spread of Covid and continued rise in international energy prices” even though Covid lockdowns across the country have hurt consumer demand, said NBS.