China's inflation grows 2.3% in July

Source: Xinhua | August 9, 2014, Saturday |

Online Edition

CHINA'S consumer price index (CPI), a main gauge of inflation, grew 2.3 percent year on year in July, in the same pace with a month earlier, official data showed Saturday.

The growth rate was also at the same level as that of the first half of this year, showing the world's second-largest economy witnessed stable prices so far, according to the National Bureau of Statistics (NBS).

In July, inflation grew 2.4 percent in urban areas, higher than the 2.1 percent in rural areas, NBS data showed.

Food prices, which account for about one third of the weighting in CPI calculation, grew 3.6 percent year on year in July, down from 3.7 percent in June.

The Chinese government aims to hold consumer inflation at around 3.5 percent this year.

Economy

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China's inflation grows 2.3% in July

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