Macroeconomics Food Costs in September Surge Upward by Nearly 9 Percent With the 20th Party Congress concluded, China’s economic data through Q3 are making their way into the public domain. Courtesy of a resurgence in live pig and pork prices last month, food prices, on aggregate, jumped by 8.8 percent from a year ago, the largest spike since August 2020. The average cost of pork rose by 36 percent year-on-year, while fresh fruit and vegetables saw upticks of 17.8 percent and 12.1 percent, respectively. Other notable increases pertained to eggs, up 7.3 percent, milk up 1.1 percent, and cooking oil up 8.3 percent. Meanwhile, the overall inflation rate went from 2.5 percent in August to 2.8 percent in September, as non-food items saw...

TAGS – Feed Grains, Soy & Oilseeds, Livestock, China