Printer Friendly

China's inflation rate fell to 30-month low in July.

Beijing, Aug. 10 ( ANI ): China's inflation rate dipped to a 30-month low in July, giving the government more scope to stimulate growth to keep the economy on track.

The consumer price index rose by 1.8 percent in July, down from the previous month's 2.2 percent growth rate.

According to the BBC, China has been looking to stimulate domestic consumption amid a slowing global demand for its exports.

The drop in prices of pork, meat and poultry products, which fell by 18.7 percent and 6.1 percent from a year earlier respectively, were the key reasons of the slowdown in the rate of inflation.

There are fears that growth in the world's second-largest economy may further slow down in the coming months.

According to the report, analysts said the slowdown in the growth of consumer prices may see policymakers introduce further measures to boost growth.

"This number gives more room for policy easing," Zhang Zhiwei, chief China economist at Nomura in Hong Kong, said.

He added that the rate of inflation was "likely be below the official 4 percent target for the year, so the policy focus for the government can stay clearly on growth". ( ANI )


Copyright 2012 All rights reserved.

Provided by an company
COPYRIGHT 2012 Al Bawaba (Middle East) Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2012 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Asian News International
Geographic Code:9CHIN
Date:Aug 10, 2012
Previous Article:View Assam violence as human tragedy, not political issue: Sri Sri Ravi Shankar.
Next Article:Google to give employees benefits 'beyond the grave'.

Terms of use | Privacy policy | Copyright © 2022 Farlex, Inc. | Feedback | For webmasters |