China: Inflation at a 3 Year HighAugust 9, 2011 3:21 am
We have written about China’s inflation problem and how the central bank is trying to cool down an overheated economy – we spotted this today:
” Chinese consumer prices accelerated further to 6.5% in July from 6.4% in the previous month, official data showed Tuesday, beating expectations and keeping alive the prospect that Beijing may maintain a restrictive monetary policy.
The reading marked the highest level for the consumer price index in more than three years, and was higher than consensus estimates of a 6.3% increase in separate Dow Jones Newswires and Reuters surveys of economists.”
Statistics Source: MarketWatch