world growth

world growth

Friday, June 20, 2008

China Food-Price Inflation Slows to 19.9 %

inflation is still high.

China Food-Price Inflation Slows to 19.9%

By Kevin Hamlin and Nipa Piboontanasawat

June 12 (Bloomberg) -- China's food inflation slowed last month after vegetable supplies recovered from blizzards in January and February and farmers reared more pigs.
The increase of 19.9 percent from a year earlier compared with a 22.1 percent gain in April, the statistics bureau said today. Non-food inflation cooled to 1.7 percent from 1.8 percent.
Overall consumer-price growth slowed to 7.7 percent from the almost 12-year high of 8.5 percent in April, the bureau said, confirming a number disclosed by government officials. The pace is faster than the central bank's target of 4.8 percent for the year, suggesting that it may allow more appreciation of the yuan to cool import costs.

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