China's inflation accelerates
- Published: 9 Jul 2013 at 09.52
- Online news:
China’s inflation accelerated more than estimated in June as food prices climbed, while the decline in factory-gate prices extended its longest streak in a decade amid slowing economic growth and lower commodity costs.
The consumer price index rose 2.7% from a year earlier, the National Bureau of Statistics said Tuesday in Beijing, compared with a median estimate of 2.5% in a Bloomberg News survey and a 2.1% gain in May. Producer prices fell 2.7%.
The lowest first-half inflation since the financial crisis in 2009 and prolonged factory-gate deflation underscore weaker demand that leaves the government at risk of missing its annual growth target for the first time since 1998. Premier Li Keqiang is trying to focus on spurring longer-term expansion by restructuring the economy and curbing the state’s role.
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