According to data released today, China’s monthly inflation rate is at it’s highest point in over a decade. Meat surged by 42.5%, with eggs at 30.6%.

China’s inflation rate accelerated to 5.6 percent in July—the highest monthly rate in a decade—driven by a surge in politically sensitive food prices over the year-earlier period, according to data released Monday.
Prices of pork and other meat surged 45.2 percent and that of eggs 30.6 percent, the National Bureau of Statistics reported.

Chinese leaders are worried that a boom that saw the economy grow 11.9 percent in the latest quarter might ignite inflation. They have tried to cool the boom by raising interest rates three times in the past six months, and economists expect one to two more increases this year.

July’s inflation was the highest monthly rate since February 1997, and an increase over June’s 4.4 percent rate. The next-highest monthly rate was 5.3 percent in August 2004.