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Entries in Chinese Economy (1)

Friday
Sep092011

China's Inflation Rate Eased in August

ChinaFotoPress/Getty Images(BEIJING) -- After hitting a three-year high in July, China's rate of inflation eased a bit in August.

According to the National Statistics Bureau, consumer prices in China rose 6.2 percent from a year earlier, down from 6.5 percent in July.

Food prices have been the main reason for rising costs in the country. Analysts said the inflation numbers seemed to show that the government steps to slow the overheating economy were starting to take hold.

Beijing has maintained that containing price growth is the government's top priority.

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