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China's July inflation edges still higher
by hlk Tue 09 Aug 2011, 17:34
BEIJING: China's inflation rose to a 37-month-high in July as the overheated economy cooled.
Consumer prices rose 6.5 percent over a year earlier, up from June's 6.4 percent, the official Xinhua News Agency reported, citing government data.
The rise came despite repeated rate hikes and indicators showing manufacturing and other economic activity slowed sharply in July.
While the United States, Japan and other major governments try to shore up slowing growth, Beijing is trying to slow an economic expansion that surged to 9.5 percent in the quarter that ended in June.
Analysts blame the inflation spike on the dual pressures of consumer demand that is outstripping food supplies and money surging through the economy from a bank lending boom that helped China ward off the 2008 global crisis. - AP
Consumer prices rose 6.5 percent over a year earlier, up from June's 6.4 percent, the official Xinhua News Agency reported, citing government data.
The rise came despite repeated rate hikes and indicators showing manufacturing and other economic activity slowed sharply in July.
While the United States, Japan and other major governments try to shore up slowing growth, Beijing is trying to slow an economic expansion that surged to 9.5 percent in the quarter that ended in June.
Analysts blame the inflation spike on the dual pressures of consumer demand that is outstripping food supplies and money surging through the economy from a bank lending boom that helped China ward off the 2008 global crisis. - AP
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