At 14:00 on August 13, China Agricultural Products Wholesale Price 200 Index was 114.90, up 0.47 points, and the Vegetable Basket Wholesale Price Index was 115.30, up 0.55 points. Nationwide wholesale average pork price was 15.80 yuan/kg, down 0.3% day-on-day; beef 67.33 yuan/kg, down 0.1%; mutton 65.07 yuan/kg, unchanged; eggs 10.11 yuan/kg, up 1.1%; dressed chicken 17.41 yuan/kg, up 0.9%.

David Kelly, chief global strategist at JP Morgan Asset Management, said the Fed should hold rates and does not need to raise them, expecting inflation to taper gradually as evidence mounts that a persistent wage‑price spiral is unlikely. After July’s CPI showed moderate core inflation, US Treasuries extended gains. Kelly cited three disinflationary forces: tariff-related costs should fall on a year‑on‑year basis; oil prices are likely to retreat as markets grow optimistic the Iran war will end; and wage growth continues to lag inflation, weakening the feedback loop that would sustain price pressures. He added markets are highly leveraged, so even small rate rises could trigger asset repricing.

SMIC (00981.HK) said it is flexibly reallocating existing capacity and rapidly validating additional capacity to help ease industry-wide supply shortages.