BBC News: “China’s inflation dipped to a 30-month low in July, giving policymakers a bigger cushion to boost stimulus measures to spur economic growth.
Consumer prices rose by 1.8% in July, from a year earlier. That was down from a 2.2% growth rate in June and a 3% rise in May.
China has been looking to spur domestic consumption amid a slowing global demand for its exports.
China’s economy grew at its slowest pace in three years in second quarter.
The drop in prices of pork and meat and poultry products, which fell by 18.7% and 6.1% from a year earlier respectively, were the key drivers of the slowdown in the rate of inflation.
China’s economy grew at an annual rate of 7.6% in the April to June period, down from an 8.1% expansion in the previous three months.
There are fears that growth in the world’s second-largest economy may slow further in the coming months.
As a result, Beijing has taken various measures to spur growth.”
via BBC News – China inflation rate dips to a 30-month low in July.
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