CHINA
From Times Staff and Wire Reports
Inflation Slowed in August: China’s inflation curve took a welcome turn downward last month as the government claimed a series of victories toward controlling overheated economic growth, major Chinese newspapers reported. The annual rate of inflation was still high at an annualized rate of 22.2% in China’s major cities in August, the official China Daily said, quoting a monthly State Statistics Bureau report. But for the first time this year, it was slower than the previous month’s rate, which was 23.3%.
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