Saturday Shocker: Chinese Inflation Unexpectedly Rips To 3-Year High

chinese food bok choy pork

Photo: Wikimedia Commons

Anytime a country unexpectedly releases a datapoint early on a Saturday morning (Friday night US time) your ears should probably perk up.Today China announced that inflation in June his 6.4%, solidly above the 6.2% analysts had expected, clocking in at a 3-year high (according to Bloomberg).

This is one of Beijing’s big worries, and it contradicts recent comments from Premier Wen Jiabao that inflation in China had been whipped.

Meanwhile, food inflation is still wild.

Check this out: The price of a kilogram of pork rump stands at 30.58 yuan. Last year during the same period it was 18.14 yuan for the same amount.

‘Nuff said.

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