Chinese inflation hits fresh high

Inflation in China soared to a new 12-year high last month, the National Bureau of Statistics revealed on Tuesday 11 March. Prices rose by 8.7% in the year to February from 7.1% the previous month, with food costs up by 23.3%.

The price of meat and poultry surged by 45.3%, with pork up by 63.4%. Inflation was higher in rural areas, with prices rising by 9.2% in the countryside and 8.5% in cities.

However, the bureau noted that this month's rise may reflect traditionally higher prices around C