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Coronavirus Lockdown, Transport Restrictions Depress China Economy

Joyce Huang

   Plagued by the COVID-19 coronavirus outbreak, China's inflationary
   pressure will continue to pick up this month after January's consumer
   price index (CPI) expanded at its fastest pace in more than eight
   years, analysts say.

   That, they add, will weigh on the livelihood of the country's hundreds
   of millions of migrant workers and the jobless rate as the outbreak
   continues to show no signs of easing.

   Latest statistics from the National Bureau of Statistics (NBS) showed
   that China's CPI spiked to 5.4% in January, up from a 4.5% gain in
   December and its highest level since October 2011.

   Within the index, pork prices jumped 116% while overall food prices
   increased 4.4% month-on-month, according to the bureau.

   Rising inflation

   The rise of CPI last month was mainly due to pork prices (which have
   risen continuously the past six months as a result of the swine flu),
   increased demand for the Lunar Near Year and the coronavirus outbreak,
   according to the bureau.

   Analysts say the CPI spike isn't a short-term phenomenon.

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