don t eat them that she would like to treat them well. the problem is unintended consequences as often is the case. the inflation rate has been steadily improving. could this spike in gas prices change all of that? gary, great to see you. what exactly is going on? we are talking about this gas price spike, pork prices, tripling since june. is inflation improving? it can get worse very quickly because oil is big time when it comes to what we spend on. i can tell you that just in the last month, we are talking about $100 billion more from the consumer out of their pocket if prices stay right here, after this move up to the next year. something that really has to be addressed. we are already in a situation where looking at savings rates,
The UN Food and Agriculture Organization’s index of global food commodity prices rose for the first time in a year last month, led by increases in the cost of sugar and meat.Â
of the pork prices, so at the moment they tend to be not on the peak cycles so that is definitely helping with chinese inflation. i must say i did not expect pigs rear ends to feature in this conversation. let s talk a little bit more about the employment situation. young people are having issues with getting secure employment, the kind of employment they can feel confident to go out spending with, what is the reality of the situation on the ground there? that is a very good question and an important one and unfortunately the unemployment rate is much higher than before. before we had 3%, 4%, but now the number is 6% or 7%. and that is only registered urban unemployment so the overall total unemployed in china could easily be more than 10%. and also with these numbers, if we break them down by different age cohort and regions, we see
specifically the tip of the rear of the pics specifically the tip of the rear of the pics because chinese people love to eat the pics because chinese people love to eat pork the pics because chinese people love to eat pork the price of pork, really~ to eat pork the price of pork, really it to eat pork the price of pork, really. it comprises a big part of the basket. all the chinese analysts, when we look at chinese inflation. analysts, when we look at chinese inflation, we pay very close attention to the cycles of the pork prices. attention to the cycles of the pork prices. so attention to the cycles of the pork prices, so at the moment they tend to be prices, so at the moment they tend to be not prices, so at the moment they tend to be not on prices, so at the moment they tend to be not on the peak cycles so that is definitely helping with chinese inflation is definitely helping with chinese inflation. | is definitely helping with chinese inflation. . is de
because chinese people just love to eat pork. that comprises a big part of the basket. all the china analysts, when we look at chinese inflation, we pay very close attention to the cycles of the pork prices, so at the moment they tend to be not on the peak cycles so that is definitely helping with chinese inflation. i must say i did not expect pigs rear ends to feature in this conversation. is there in china a recognition, do you think, let s talk a little bit more about the employment situation. young people are having issues with getting secure employment, the kind of employment they can feel confident to go out spending with, what is the reality of the situation on the ground there? ground there? that is a very aood ground there? that is a very good question ground there? that is a very good question and ground there? that is a very good question and an - ground there? that is a very - good question and an important one and unfortunately the unemployment rate is much higher th