Monday, July 11, 2011 China’s National Bureau of Statistics released data Saturday showing that the consumer price index (CPI) for June climbed 6.4% from a year ago. That compares with a 5.5% rise in May, which was the largest since a 6.3% increase in July 2008. The major factor contributing to this figure was the steep rise in food prices which climbed 14.4%. Pork is a major food staple in China, and its price rose 65% from last year. Analysts predicted that China’s inflation would peak in June, but particularly worrisome was the steep rise in the cost of food from the same time last year and up from 11.7%…