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Inflation

China battles 'porkflation' as price of popular meat soars

Staple's cost jumps over 50% since May on supply squeeze, demand recovery

A butcher cuts a piece of pork at a market in Beijing.   © Reuters

SHANGHAI -- China's pork prices surged again in August, as the government dips into national reserves to stabilize costs and ensure supply in the world's biggest consuming nation of the meat.

The country's headline consumer price index (CPI) slowed in August to 2.5%, according to official data Friday, while producer inflation eased to its lowest level in 18 months at 2.3% -- far lower than in the U.S., U.K. and other nations battling decades-high inflation rates.

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