China Inflation Down From Highs

From BBC News:

China’s consumer price inflation fell back to an annual rate of 7.7% in May, official figures show, as efforts to slow food price growth kicked in.

The decline from April’s 8.5% rate had been expected, but analysts warned that the surging price of crude oil posed a continued threat.

Beijing had pledged that tackling price rises was a priority.

Food costs rose 19.9% in May from a year earlier driven by demand for pork, but this was slower than in April.

Read also Consumer Price Index (CPI) Kept Jumping in May from National Bureau of Statistics of China, and China consumer inflation falls as food prices drop by Emma Graham-Harrison and Zhou Xin.

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