China’s inflation rate reached its highest in eight years in January.
According to ArabiaNet, the consumer price index rose by 5.4% in January, exceeding expectations for a rise of 4.9%, to follow a rise of 4.5% in December, due to the impact of seasonal factors for the Chinese New Year holidays, in addition to the impact of the new Corona virus.
The outbreak of the Corona virus paralyzed movement in a number of Chinese cities and disrupted the movement of goods, transportation and supply chains. The rise in the price of pork, which is an essential component of the Chinese food basket, by more than 116%, also contributed to raising the rate of inflation.
