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China's inflation eases to 6.2% in August

By Wen Sheng (People's Daily Online)

10:49, September 09, 2011

China's inflation in August eased to 6.2 percent from July's 37-month high of 6.5 percent, thanks to the government's strong hand of tightening credit supply and restricting price rises.

The National Bureau of Statistics said Friday that August's consumer price index, a major gauge of inflation, grew 6.2 percent year-on-year, and the producer price index (PPI) stayed elevated at 7.3 percent, meaning Beijing has to do more to put inflation tightly in check.

The bureau said that food prices had kept climbing in August, as they rose 13.4 percent year-on-year, a prime factor causing higher inflation in the past few months.

Analysts say that eased inflation in August may assuage investors' concerns of another imminent interest rate hike by the central bank, and China's two stock markets in Shanghai and Shenzhen jumped upon the release of the numbers Friday morning.


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