China Inflation Statistics: At a 3 Year High NowJuly 11, 2011 3:46 am
We have written about the problems faced by the Chinese Central Bank – the one thing they wouldn’t have wanted to see, is an increasing inflation.
We spotted this today:
“China’s annual inflation accelerated to a three-year high in June, increasing the chances that the central bank will keep raising interest rates to tame price pressures that are spreading beyond food and energy.
Saturday’s data, which comes just three days after China raised interest rates for the third time this year, may prove to be the near-term peak for China’s inflation as global commodity prices cool, but most economists were still pencilling in one more rate increase this year.
The consumer price index for June rose 6.4 percent from a year earlier, slightly above economists’ forecasts for a 6.3 percent increase, with sharp rises recorded in food, consumer goods and property.”
Statistics Source: Reuters