Food inflation in China jumped to a near 7-1/2-year high of 7.7 percent in May from 6.1 percent in April, as prices of pork surged 18.2 percent following an outbreak of African swine fever. In addition, prices increased further for both fresh fruit (26.7 percent vs 11.9 percent) and eggs (8.7 percent vs 3.7 percent), while slowed for fresh vegetables (13.3 percent vs 17.4 percent), and was flat for edible oil (vs -0.3 percent in April). Food Inflation in China averaged 5.72 percent from 1993 until 2019, reaching an all time high of 40.20 percent in October of 1994 and a record low of -5.50 percent in April of 1999.
Food Inflation in China is expected to be 7.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Food Inflation in China to stand at 1.90 in 12 months time. In the long-term, the China Food Inflation is projected to trend around 2.10 percent in 2020, according to our econometric models.