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China's consumer price index increased by 2.8% in September from a year ago as prices of food, especially pork, rose. Future Publishing | Future Publishing | Getty Images BEIJING — China's consumer prices rose in September at their fastest pace in more than two years as pork prices climbed, the National Bureau of Statistics said Friday. The consumer price index increased by 2.8% last month from a year ago, matching expectations from a Reuters poll. That marked the fastest pace since a 3.3% year-on-year increase in April 2020, according to Wind Information. Much of the gains came from a continued pickup in pork prices , which rose by 36% year-on-year for their biggest rise since August 2020, Wind data showed. Pork, a food staple in China, has a significant weighting in the country&#x27 ;s official consumer price index. However, other indicators pointed to subdued consumer demand. Excluding food and energy, so-called core CPI rose by only 0.6% from a year ago — the slowest p...

U.S. Federal Reserve Board Chairman Jerome Powell speaks during a news conference at the headquarters of the Federal Reserve, July 27, 2022 in Washington, DC. Drew Angerer | Getty The Federal Reserve will raise interest rates to up to 4.6% in 2023 before the central bank stops its fight against soaring inflation, according to its median forecast released on Wednesday. The central bank on Wednesday raised benchmark interest rates by another three-quarters of a percentage point to a range of 3%-3.25%, the highest since early 2008. related investing news BlackRock's Rieder says Fed should not panic because rate hikes have lagged effect Patti Domm 4 hours ago With inflation still high, the Fed may be a long way from where it can stop hiking Jeff Cox 2 days ago The median forecast also showed that Fed officials expect to hike rates to 4.4% by the end of 2022. With only two policy meetings left in the calendar year, chances are the central bank could conduct another 75-basis-point rate...