China’s Ministry of Agriculture recently announced that the country’s hog inventory fell in Decembers for the first time in 10 months.
According to Bloomberg, China had 473.34 million hogs at the end of December, a 0.6 percent decline from November. This is the first decline since February 2011.
The Ministry of Agriculture released a statement reporting that on an annual basis, the inventory of hogs in December increased 5.1 from the year before.
The country experienced a shortage of hogs in 2010 and early 2011, which pushed up pork prices and stoked inflation. Earlier this month, Reuters reported that though pork accounts for just 3 percent of China’s consumer price index, it is the most popular meat in the country. Pork's price has a big impact on the public’s inflationary expectations.
China’s National Bureau of Statics released data indicated accelerating food prices gains for the first time in five months in December.