Macro Trends Monthly Food Inflation Hits Highest Level in Seven and a Half Years With China’s annualized gross domestic product (GDP) growth rate falling to 6.2 percent, the economy received more bad news as food prices in June were up 8.3 percent against June 2018. This was their biggest increase since January 2012. At that point, however, GDP was growing at annualized rate of nearly 9 percent. Now many households in China, particularly those outside the major coastal cities, are facing stagnant incomes and rising prices for basic staples. According to data from China’s National Bureau of Statistics, pork prices were up 21.1 percent in June compared with a year ago, while fresh fruit prices jumped 42.7 percent versus an incre...

TAGS – Feed Grains, Soy & Oilseeds, Livestock, China, North America, Macroeconomics