Inflation slows to 2.6% in August

By Leo Zhang | September 9, 2013, Monday |

Online Edition

China’s consumer price growth slowed in August, paving the way for the central government to adjust its policy to bolster economic expansion.

The Consumer Price Index, the main gauge of inflation, rose 2.6 percent year on year last month, the National Bureau of Statistics said today. It compared with the increase of 2.7 percent in both July and June and a government-set target of 3.5 percent for the whole year.

The Producer Price Index, which tracks factory-gate inflation, dropped 1.6 percent from a year earlier, compared with a 2.3 percent decline in July.

Analysts expect China’s economy to perform better in the second half of this year thanks to infrastructure investment, the stimulus package unveiled in the second half of last year and recent supportive measures.

Supportive measures include tax cut for small companies, more investment in railway and other infrastructure construction as well as less red tape for exporters.

The official Purchasing Managers’ Index, a comprehensive gauge of operating conditions in China’s industrial companies, rose to 51 points last month, a 16-month high that indicated growth momentum was accelerating in the world’s second-largest economy.

Economy

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Inflation slows to 2.6% in August

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