An oversupply-led plunge in pork price has pushed the Chinese economy into deflation

• China's economic woes continue to mount, as CPI figures released Wednesday showing 0.3% deflation. 
• Pork prices are a significant driver of the consumer price index, and have fallen 26% year-on-year. 
• Deflation could have wider economic consequences, such as lowering Chinese consumer demand.

Chinese pork prices have plummeted by more than a quarter as the world's second largest economy slipped into deflation for the first time in over two years.

Consumer price figures fell by 0.3% Wednesday, the first decline since 2021, with the government under considerable pressure to introduce much-needed support into the economy.