China inflation declines to 2.6% year-on-year in Aug.
AFPBEIJING--Chinese inflation slowed to 2.6 percent year-on-year in August, the National Bureau of Statistics said Monday, giving the government more room to unveil new measures to boost the world's number two economy.
September 10, 2013, 12:04 am TWN
The rise in the consumer price index, a main gauge of inflation, was slightly lower than July's 2.7 percent.
In the first eight months of the year, the CPI rose 2.5 percent year-on-year, below both the government's 3.5 percent target for 2013 and a touch below the 2.6 percent seen in 2012.
“The low CPI inflation means that the new government still has spacious room for bolstering growth via implementing a mini fiscal stimulus and avoiding monetary tightening, and the rising PPI inflation suggests the economy has been recovering,” Bank of America Merrill Lynch economists said in a research note.