Interior Ministry makes great strides in enhancing national security landscape    MWL Chief meets Pope Francis in Vatican University of Bologna confers on Sheikh Al-Issa Honorary Fellowship in Law    Abdullah Kamel unveils plans to launch halal certificate similar to ISO Value of global halal market exceeds $2 trillion    Emir of Madinah launches first phase of Madinah Gate project worth SR600 million    Saudi Arabia starts Gulf Cup 26 campaign with a disappointing loss to Bahrain    Gulf Cup: Hervé Renard calls for Saudi players to show pride    Oman optimistic about Al-Yahyaei's return for crucial Gulf Cup clash with Qatar    Qatar coach Garcia promises surprises as they seek first Gulf Cup 26 win    Liberal leaders say they have a plan for a new, more effective anti-Trump resistance    Stampedes at Christmas charity events kill 67 people in Nigeria    A man's suicide leads to clamor around India's dowry law    Slovak PM meets Putin in surprise Moscow visit    Environment minister inaugurates Yanbu Grain Handling Terminal    Saudi deputy FM meets Sudan's Sovereign Council chief in Port Sudan    Kuwait, India to elevate bilateral relations to strategic partnership Sheikh Mishal awards Mubarak Al-Kabir Medal to Modi    Marianne Jean-Baptiste on Oscars buzz for playing 'difficult' woman    PDC collaboration with MEDLOG Saudi to introduce new cold storage facilities in King Abdullah Port Investment of SR300 million to enhance logistics capabilities in Saudi Arabia    My kids saw my pain on set, says Angelina Jolie    Legendary Indian tabla player Zakir Hussain dies at 73    Eminem sets Riyadh ablaze with unforgettable debut at MDLBEAST Soundstorm    Order vs. Morality: Lessons from New York's 1977 Blackout    India puts blockbuster Pakistani film on hold    The Vikings and the Islamic world    Filipino pilgrim's incredible evolution from an enemy of Islam to its staunch advocate    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



China's inflation rate eases as economy cools
Published in Saudi Press Agency on 09 - 09 - 2011

China's inflation rate retreated from a three-year high in August as food price increases moderated, suggesting Beijing may be able to hold off on further monetary tightening as it copes with a slowing global economy, AP reported.
Consumer prices in the world's second-largest economy rose 6.2 percent over a year earlier, cooling from 6.5 percent in July, the National Statistics Bureau said Friday.
It said industrial production also slowed in August, rising 13.5 percent from the year before, compared with a 14 percent increase in July.
While inflation is still way above the government's 4 percent target for the year, the latest figures suggest that repeated interest rate hikes and other curbs meant to chill the overheated economy are taking hold. That could allow China's leaders greater leeway for policies aimed at keeping economic growth on track, as the U.S. and European outlook worsens.
Less pressure from inflation "would remove a significant barrier to further policy stimulus in the event of a slump in global demand," said Mark Williams, of Capital Economics, in a report.
Food prices, which comprise a large share of the consumer price index, climbed 13.4 percent, down from 14.8 percent in July. A 29.3 percent surge in prices for meat and poultry and 12.2 percent increase for staple grains, though, kept food price increases relatively strong.
Many Chinese are stretching to make ends meet.
Added to surging food prices are increases in non-food inflation, which rose to 3 percent in August. Among the highest increases was a 14.9 percent climb in costs for diesel and gas.
While visiting China earlier this week, World Bank President Robert Zoellick cautioned that inflation remains the country's key policy concern, echoing similar statements by Premier Wen Jiabao.
Surging prices also complicate Beijing's efforts to promote retail spending and other domestic consumption and reduce reliance on exports and investment. Spending on new factories and other investments has accounted for more than 40 percent of China's output over the past decade - several times that of the United States, Japan and other major economies.
Such spending rose 25 percent in January-August to 18.06 trillion yuan ($2.8 trillion), the statistics bureau reported. Lavish investments by local governments, which rose 28 percent so far this year to 17 trillion yuan ($2.7 trillion) is driving concern over the potential for a debt crisis given the likelihood of low returns on that spending, often on showcase construction projects.
Retail spending in August remained robust, climbing 17 percent to 1.5 trillion yuan ($234.4 billion), just slightly below the figure for July.
-- SPA


Clic here to read the story from its source.