Average prices of pork, China’s most consumed meat, declined at the end of July in 50 Chinese cities, a sign that inflation may be moderating, Bloomberg reported. According to the National Bureau of Statistics, prices for marbled pork from July 21-30 fell 0.6% from the previous 10-day period to US$4.67 per kilogram, while hind-leg pork prices decreased 0.4% to US$4.83 per kg. Data from the Ministry of Commerce (MofCom) also showed that wholesale pork prices fell 0.5% in the week ending July 31 from the previous seven days. The declines support the government’s efforts to rein in inflation, which hit 6.4% in June, the fastest pace in three years. Hog prices have risen more than 50% from last year, according to MofCom statistics.
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